"At what price would all of the current shareholders sell?"

Such an announcement would create a market for their participation. I'm sure Polis and company would have done their analysis considering their current position and what they would be willing to pay to take a controlling interest.

Also, if they anticpate EDIG's take (hundreds of millions) to be at the higher end of that range, say $500-$900 million, then there is a motive to continue to add down here AND pay higher prices going forward.

Would you be willing to buy EDIG for $300 million or less ($1/share) if you anticipated an inflow of cash settlements to the tune of over $300-$600 million or more?

And a large portion of their shares would be valued well below the $1 mark, further lowering their cost basis.

Also, after taking it private and raiding the cash, they can, years later, take it public again depending on the other business aspects (eVU) market etc that they develop.