OK this is the way I see it. Last trade was at 1125am EST. Stock was halted at 1133AM EST. The announcement of the PP was sent out at 1138EST. Therefore the stock didnt trade. it was halted, announcement was made. Announcements can be made during exchange trading hours but not while the stock is eligible to trade. This allows time for clients to assess what the announcement means and then the stock will trade sometime after that. I would hazard a guess that there will be no problem filling the PP. It is probably already spoken for.