Spot On, As Usual...
I also agree with the "rumor" on raising the capital for R&D in the hot sector. I think what happened is they realized that the negotiated strike price was so rich that they should also raise more cash (float more shares).
Your $0.30 / share estimate may prove exact or pretty darn close, but it's a 50% premium to prices when the deal was announced... had to influence the desire to go for more than just the $$$ needed to close the deal. (Might have even explained some additional mechanics that had to be worked out.)
I keep running the numbers and plugging in ultra-conservative for EVERY variable and I still get WAY over current price levels.
Anyone that doesn't get on this train NOW will be chasing a rocket once the deal closes, IMHO