Well, for one, would they need get to keep their 1 for 2 free attaching option? The risk is gone, and they have their options remaining just in case things pan out.
Another thing is that the shares then get distributed/sold to new holders. The risk goes to them. And, if another cheap capital raise should come up in the future... who does it go to anyway? PAC Partners.
Just a few reasons I can think of.
Ann: Trading Halt, page-73
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