I am sure the directors could waited for a deal then raised...

I am sure the directors could waited for a deal then raised capital simultaneous or something like that.

But the thing to learn here is 'when lawyers are publicly under threat' (ie over subscription of shares issue) and with the amount of people looking for tips, the directors / solicitors did something unexpected and to the adverse. Almost to make a statement that we are clean.

Solicitors are like that and the more senior they are, the more elusive they become.
They cant play football or throw a perfect frezbee, but they can read books and sit there with a grim.