spec, let's say they issued shares for the entire deal. that would close it, right then and there. no more speculation. and imo it would be accretive on those terms.
so, since this is the case, the time we've seen them take to close the financing is related to getting everything done just right, in a way that is most shareholder friendly.
given the tape, i am feeling very bullish lately and sense we'll hear some details soon.