I have less information than Teutracker, as I have not seen the offering circular, so he can correct any inaccuracies.

AFAIK, the company is offering $120 million in notes with the features that Teutracker described. It was not done as a bought deal, where the underwriters bought the issue and then have to market it, but rather a solicitation for interest was made. The company received more interested buyers that the $120 million, so it must close the syndicate book and then assign allocations (I don't know if there was an allocation for over subscription or not) among the three syndicate members that I understood to be 40/40/20. Then the buyers pay the money and the deal is formally closed.

So, yes to your question, there there is more than enough buyer interest to cover the full $120 million and we don't need to find more buyers, they just need to finish all the paperwork involved. That said, with the history of Crystallex, I don't see any stock price movement until the deal is official closed and a PR issued.

Since this is quite a bit more complex than a bought deal, i.e. more parties and lawyers, IMO it only makes sense that it would take longer to complete.