Why do it now? What if the deal falls through? What if shareholders vote no? Raise the money while you can or else you won't be able to later on. Remember when Fung raised money in late in 2007 or early 2008 (not sure exactly when)? Anyway, many wondered why is he raising money now? Then the denial came. In hindsight, it was wise to raise the money when he did. You have to wonder if he had any feeling things weren't going well at the time.