It looks like the directors of EQR have exercised options...

It looks like the directors of EQR have exercised options expiring in March 2024 to assist with costs related to the acquisition and in addition, a convertible note of $750k, 9% interest, 2 year term that can be converted into 7,500,000 (ex 10c per share) shares.
My read from this is the board really wants this deal to go through and don't want cashflow to get tight before it does. The $750k convertible note seems to be new but the directors exercising existing options in advance of when they expire is a show of confidence