$12 a share implies a 200% premium. You have a better chance of hitting the Powerball jackpot than getting a 200% premium on a buyout.
Given the options held by the officers and members of the board it is unlikely that a buyout below the middle teens would be considered much less accepted.
There will be no buyout interest until (if) the share price is well into the teens. So if (and that is a big IF) the share price is in the low to middle teens you might see a buyout offer.
Of course if (and again that is a big IF) the share price hits the mid teens it will because the market sees enormous potential (and there is enormous potential). in which case the company will not be for sale.