I believe that Poet had all expectations of closing this deal by the original dates and having contracts signed and orders being ready to fill.

They issued stock options earlier than previous years(at a higher price than now $.38)  and participated in the first trance, which in most peoples minds, would show confidence in their product and timelines. If they thought there might be hurdles, then why not wait until now to price and give stock options at the lower share price.

I'm sure things on going in the company are quite fluid and changing week to week. 

With the payment being made into 2 parts, for denselight, it makes the debenture raise as a little more security for ongoing needed capital to help the company meet day to day operations, until full payments are received and/or contracts and orders are signed also.

Ron