I expect the trading halt is to allow further information about...

I expect the trading halt is to allow further information about the proposal to be distributed. Subject to current shareholder agreement (the institutions will need to be onboard, not just the retail small holders) a SPAC will merge with us, asx listing will cease and you will have shares in the new entity (nasdaq) that you can trade (easily on commsec and nabtrade as well as others). As a deal is formalised and the date approaches the ASX price will tend to reflect the future price minus a discount for the hassle ($1.49 less discount). The risk is the deal doesn’t happen so the price will only approach that when the deal is pretty much done. The 67% is the post raise dilution just as if they did a cap raise on asx and diluted the current holders. You won’t be cashed out but you may have a chance to sell your shares on market before the delisting.

Reading on what a SPAC is and how they hold/spend money or redeem it to investors who don’t like the proposed deal is worthwhile to understanding the deal.