The deal announced by Hyro was stated to be worth $17.2m....

The deal announced by Hyro was stated to be worth $17.2m. However, Kit Digital announced the deal of US$14.5m(A$14m).
Kit has said that is is going to settle in shares - which means the earliest the company can get liquidity for 80% of the purchase price is 6 months (as there is an escrow period) with the balance of retention funds (whatever is left after warranty claims) in 12 months.
If the Kit share price falls further - say to $5 (is has traded as low as 6.50 in the past few days) the deal to shareholders (after repaying the convertible note holder) is worth between 19c after 6 months and if half the retention is released a maximum of 23c after 12 months!!
Whilst the share price of KIT may go up even at $9 a share the shareholders would get 43c a share after 6 months and 50c after 12!

It is very hard to understand why the Board of Kit would agree to to put this deal forward to shareholders - given that there is significant risk on currency and the market risk on Kit itself with NO liquidity for at least 6 months.

Surely the Executive Director that negotiated the deal does have a success fee riding on this?