So far the "sale" of assets news has been slow to come. I beleive the end result will be a return of shares to the treasury and nothing more. IMO, more shares to sell, that's where "cash from the sale" will come from.
Their PR said they will complete the merger shortly after sales of assets because they don't want $EVDR to be labeled as "shell", they will stay within the timeframe to prevent that from happening...
They were looking at merger candidates btw, you maybe right on the money if they announce both events at same time or same week...