SC2 wants to enact changes at the company to enhance value, but needs to be a large shareholder to exert influence. It wants to buy 5% of the company at a premium. Note that shareholders who tender may not sell all their shares, as the deal willl be pro rated across all tendering shareholders. At $135M the company is very small, and has destroyed value over the past two decades. The stock was near $19 17 years ago (34c today). Debt remains very high and it typically loses money every year. We would be quite comfortable tendering into this offer to cash out a small portion of shares at a premium to the market price.
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