If that's what a lead manager does, then why would QBL have...

If that's what a lead manager does, then why would QBL have engaged one in the first place if they were so confident that shareholders would have leapt upon the CR (as holders appear to have) an had no difficulty meeting the minimum threshold? Seems like an unnecessary and a tad expensive cost to me.

In any case, Empire are not silly. They figure that at this stage the money today is worth more than the future value of the shares, so they've opted to take the money. A bird in the hand, so to speak. Wise move.