Yes, but who is going to buy these shares, even if the company...

Yes, but who is going to buy these shares, even if the company might see better days? The free float is very limited, with top 10 pretty much unchanged and holding over 80% of the total shares, and likely already all committed to going private. So you would really buy to access some private equity "opportunity". Why not, but this is not going to be the cup of tea for many small investors. Possibly a professional investor sees an opportunity to get into the registry at a discount price. Got to be confident there won't be fun and games while private though. And with he founders owning too much for good governance, it is a tricky proposal.