JT said there are about 300 prospects left.  24 have been take on at an average of $4M each (after TPL's slice, unless I totally misunderstood). It's difficult to say which way that average will trend, as smaller companies may be worth less.  But if all 300 came in at $4M, that's $1.2B to PTSC, less the cost of running PTSC.  So that's a worth of about $3.  If only 100 more come, at an average $4M each, that's closer to $1 cash per share. 

Then you'd have to look at how all  that cash will be used (M&A?) and what ROI can be achieved and how the market would value it.