BUD-LifX The Future, page-156

Just so everyone is clear, for the capital raising at 8 cents, those shares (i) don't exist yet as they are subject to approval at General Meeeting and (ii) no money has changed hands ...the sophisticated and institutional investors have had their bids confirmed but those shares have not yet been paid for.

So in this instance, it is not the case that the SP was pumped to allow these investors to exit. The share price has dropped down to the level of the capital raise, so now no one can claim they have not had the opportunity to buy at the same levels.

The SP reflects the uncertainty about the deal and when the combined entities will break even. LIFX are showing enormous revenue growth and their last quarter was positive earnings. I personally expect a rapid acceleration in their unit sales and profitability. Just IMO.