So why did they raise $28M ??, page-7

Your questions is not unfair or silly. It is common to do financial assessment of company you plan to deal with. This includes the usual ratio analysis liquidity solvency etc. it could just be cash in bank was required to meet or exceed a target ratio. Both parties will invest time and money in this relationship and the last thing MIngram would want is a few months down the line BUD cannot raise money and it will take a while before it has net cash inflow from operation.

All the best