Maybe Pinetree did not want a deal? Maybe they did not like the terms and felt that POET would put out news that would lift the share price to new highs. Maybe they expected their other stocks to perform resulting in them continuing to hold as many shares as they could of POET? Maybe POET wanted Pinetree out of the picture and the low price has facilitated this?
I think it is clear that this has had the effect of allowing interested parties to get in cheap and if those that have been buying are taking an interest/stake in POET their average cost would look good on the their books allowing for higher price and limiting dilution if there is an equity offering to follow.
