the tender is going to be lower than 6 probably. they've set the bar pretty low for the valuation of the company and excluded the edc cash and remaining equity. after they give a distribution, they are going to be trading around 2 or lower (probably a 25 mil distribution and a hold back of 5 mil for the share buyback giving current shareholders around 4 per share).

remember here, insiders own less than 2 percent of this company and everyone can vote no, so who knows if any of this will end up going through anyway.