I tend to agree with the idea that the deal was already in the works and they had to jump to the TH when SP dropped. Justguessing, but sounds plausible.
If an investor gets 0.4c I'll be more that pissed. A 50% discount is outrageous at any end of the market, whether it 1c or $100 SP, doesn't matter.
I'll be very happy if they still managed to get the deal done at 1c with some sweeteners as you say.
These deals always take longer than I hope, so I'm not expecting any early announcements.
Ann: Trading Halt Request, page-146
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