Could catch TR off of Tap's post. Saying all business deals are on hold, places the issuance of the preferred shares on hold. The battle of Rule 144 also gets placed on hold.
Still, one can not discount an announcement on 30-Jun by Renergy. They may get cold feet and back out. Unless they gave themselves no escape clauses with it open ended as to how long LLEG had to be prepared to close. Conversely a Renergy might decide to sit and wait for another month to see what happens to the PPS. IMO any announcement will be initiated by Renergy.