RE:Doesn't make sense@ investornot - It's possible that NXE was halted because it didn't have all of the regulatory disclosure approvals submitted yet when the deal was announced (guessing only).
Since warrants were not part of the deal, the brokers may believe that NXE was trading near a short term top and instead chose to discount the offering more than they would have if some warrants had a reasonable chance of getting into the money.
Consider NXE's market cap for example. It was $1.9B. It has 300M/lbs of uranium but FCU is next door, has a little more than 100M/lbs and had a market cap of $346M. That's a difference of nearly $1B on an equvalent basis. So the brokers probably said that they couldn't do a deal at $5.