I don't think it will drop below the $1.40 retail offer price to be honest. It would be silly for institutional holders and retail holders to take up the offer and then sell for less. But like you said, unless the general market sentiment shifts like it did in Feb and Mar this year. But otherwise this is a pretty good long term hold with the acquisition of Opticomm this year.
UWL Price at posting:
$1.58 Sentiment: Hold Disclosure: Held