i find it very hard to believe the suitor will ever return at that price. they didn't want to buy at $5 pps, when the market cap was $50M.
after the recent financing, a $3.50 pps takeout would be almost $80M mkt cap on a fully diluted basis (the warrants would be in the money). worst of all, the NUC pipeline has taken a big step backwards since the suitor was interested a few months ago.
more likely, the suitor saw the confidential data on NUC, before the rest of us did, and they got spooked.