I think they are preparing to price a secondary. I remember a similar situation about six months ago where a thin small cap priced a secondary at a 50% discount to the market. If anyone remembers the stock I'd love to know.
I was looking at Briefing...On Sept 15, they registered for a sale of 3.3 million shares. It looks like it was around $30 bucks at the time. So they're selling $100 million dollars in stock, and their market cap (at that time) would have been about $300 million.
