They only had two months of cash on hand at the time. They had to do it regardless of wanting to go it alone, or getting bought out. Having the extra cash gives them the luxury of getting further along on the milestones on there own, in turn having a more valuable company to sell down the road.
I believe the company commented on the capital raising and said they didn't really plan on doing it that close, but it was too good a deal not to do it (probably why Reiza ditched a couple hundred thousand shares then too).
They have no choice but to move forward as though they are going it alone (which may be there intentions). Who really knows what there thinking, but my guess is that they will ultimately sell out. It's too hard and very rare for a small spec company to go all the way in todays environment. Every day some big boy is gobbling up a competitor. It's the nature of the beast...for good or bad.