Still not entirely sure why they need trading halts for this...

Still not entirely sure why they need trading halts for this type of raise?

They need a trading halt to meet their continuous disclosure obligations. Probably word is getting out about the raise. They're not 100% finalized with everything, so they're not ready to make a formal announcement. So they implement a trading halt so that the rest of the market isn't disadvantaged relative to those who may have already got wind of it. That would be my assessment.