There should be some kind of attempted bounce in the next few days, try to sell then.. Not sure what the price point would be, if it hits 11, especially do it...
Once the new shares are issued, your money will be locked up for awhile.
Unless you can just hold for 3 to 5 years, get out and invest in something else. You can make up the loss.
If you hold it long enough, you could also make up the loss and maybe make a little, but again, you are giving up the opportunity cost by doing so.
I would sell and move on, but that is just me..
I bought a couple of tee shirts today for under $5 and got a free gift for applying for a JCP card (winner, winner chicken dinner). I bought my shares at $18 and since they are in a Roth account I can't write off the loses.
Why bail a sinking ship when land is a couple yards away. Sell it cut your loss and move on. Pick a profitable company next time. Pump and dump company. Headline today said JCP +6% etc... then bamb! dilution. Not to mention a lying CEO.