Commercial reality the stock price had been trading sub $0.30 cents (even as low as $0.15 cents LOL) for the past year who's going to make a bid at what 5x market price? In my view management did exceptional to get an 80% premium or thereabouts which is about as high a premium we ever really see (with rare exceptions Ofcourse).
The value is there for PE so makes sense they are bidding it up further. Wasn't management's fault the market got this so deeply wrong - just an example of some of the extreme inefficiencies that can occur in this end of the market
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