The Tender Offer should be announced either way
whether they are taken-over by a publically-traded company or whether they get taken private.
I'm suspecting they are being taken private, but I could be wrong...
Either way it should be for no less than 1/3 their potential revenues over the next 10 years, minimum (1/3 based on a profit margin in the 35% range).
There would, of course, need to be some discounting for inflation, but when all is said and done, they stand to ramp revenues well over the 100 mil per year clip over the next three to five years, therfore bringing the discounted value to at least $500 Million (based on a lot of tedious discounted cash flow analyses)
So, at least $2.05 per share (with Pokerchamp's share count estimate).
But I could be wrong, so....meh...do what you think is best...