That was my point too, Turr.

If I was on the exec team for POET, I would prefer that the share price not jump up just prior to a vote to have my options reduced in price.

And, I suspect that MMCAP has a strategy beyond a typical passive investment.  Whatever this strategy is, it will logically increase the sp.  MMCAP gets rich. Execs get rich. And investors in the company earn a significant return on their investment.