Suresh wrote:

"Although we are making solid progress on revenue and product expansion within our DenseLight subsidiary, our integration activities intended to establish a commercial foundation for the consolidated Company are not without challenges. We have uncovered certain deficiencies in the organizational, functional and operational structure of the fab."  They go on to say they are addressing those challenges, so as to unlock the value of this asset (once they address the challenges).

So, I guess the above is a clue in terms of how we got a hold of DL inexpensively and for no cash.  So, I'm guessing the DL folk, Jerry R., et al, couldn't say too much when the share price plunged due to the offering.  Neither side got what they thought they were getting.