Looks like someone had buyers remorse, selling under IPO
aiwill plans to provide some updates and clarifications soon, curious to see what it'll be.
I hope they have a plan to move the 2nd 2,000,000 shares. Stating that the 2nd batch will be at a higher price without specifying a timeline or a price point will just stagnate the stock for an unacceptable period of time while not providing any benefit. It will also piss off any future investors that happen to purchase above the 2nd batch price point. IMO Learn from the AMC fiasco and communicate the remaining share release schedule.
I agree, releasing IPO shares in batches is just flawed. It would be much better and probably raise a lot more BTC if they only raise what they could conceivably need now and have a secondary IPO after the market for their shares a has matured (and most likely appreciated).