That $1.80 was offered to the buyer as a discount (offered by ESLR management) in order to bump up the final takeout price and/or sweeten transitional employment contracts. ESLR needs "China" to make it and the tech is solid as far as the Chinese are concerned. This activity was common during the startup biotech scene 1999-2001--same game going on here. Hang in there and will will likely get 80-120% from here--the range I remember then. Usually went down within 6 months of such an offering. -imho
I do agree that ESLR is now pretty well positioned to sell. This boat won't float itself with 200+MM shares out and the stock at $1. Solar companies are capital intensive and need to raise funds without this kind of dilution. SPWRA recently raised a boatload of cash for undefined purposes. They are ESLR's biggest customer and would be a good godfather. They are well managed. As I said months ago, ESLR needs to get Devens 1 running, get some self financing cash, and shed the complication of Sovello to get bought. They are just about ready. The CEO should also be moved into his retirement mansion.