BUD-LifX The Future, page-155

as i said the other day standard operating procedure for a raise is to
- get 10-15% discount - pump sp for 2-3 days post - in which pure liquidity providers exit at ~5-10% quick profit
- then its on stock fundamentals as to where sp goes - common in soggy stocks to fall back to issue price where corporate finance broker will tend to bid the line (ie defend sp) for at leats a few weeks post the raising

there are funds and hnws who;s business model is entirely around being there for every raising - so companies get their money - and exiting in that 2 day window - so minimum risk of losing capital.

having people like that helps brokerages ensure they can always do a raising in any market

depending on the raise they can speak for  as much as 50% and as little as 0% of of the amount raised. no idea what it was for BUD's raise.