Ann: Heads of Agreement secured to launch SSH products in Taiwan, page-35

"It's pretty obvious that they wanted more and couldn't get it"

How is it obvious ? How do you know that they WANTED more. ? That is open ended speculation.
Perhaps without the market crash, which no-one could foresee, they envisaged a rebound to pre CR levels, and a continuing market uptrend, and they along with it, based on completion of the acquisition?

Without the knowledge of foresight, they would have been reckless to raise excessively more than they needed, if they thought that completion of the acquisition, could rebound the market valuation. Then could raise money as needed into a higher trend.

You can play out many scenarios. But you are not a mind reader. Unless you were intimately involved in the 5m book build, with inside information that it was trying for more. Otherwise, speculating.