There are a couple reasons I could see an annoucment of funding causing the PPS to dip, at least in the short term....the first being the old saw about:  Sell the news.  There's a lot of anticipation among shareholders about financing news, and if buyers don't immediately storm in and start pushing the price higher, perhaps some shareholders will decide to take their money off the table....the PPS has already climbed from $1.20 or so to up where we are now with gusts up to $2.40.....some may assume that financing news, assuming it comes to pass....that it is already "priced in" and is the reason the PPS has basically doubled in less than a year.

The second possibilty is one that some will dismiss out of hand....and perhaps is should be dismissed.  The idea that some might short the news in an effort to demoralize longs and get them to sell.