I have seen this before with SYN*. The MM's didnt want people to see the price alert going off and it would have cause more people to run and get in. For example, GTL* last week...I got alerted as I watch my highest percentage mover ticker and this stock was climbing in my face and I had to go investigate...Sure enough news had dropped and I was in and made some good cash. That ws smart of the MM's because now people gonna have to chase for real now on Tuesday.
Because no one thought the merger was done because of a different announcement, the merger was a total surprise, if it was put out earlier it would have jumped a lot more. Thant my feeling
also according to Jim37 it has around 1.5 billion in the float which may sound like a lot but it really isn't for a pinky. HES* ran to .0024 with 20 billion and you see the other posters mentioning other with huge floats that run well also.
.0006 was on the ask right before the bell, so it could have easily closed at that. That would have been a 50% gain in 10-15 minutes from when the news was released. I suspect many had their sell order in at .0004 and .0005 who didn't see the news and will be kicking themselves on Tuesday.