Waivers will be issued, but at what price is the more pertinent question. DRYS may be stopped from contemplated transactions. Or GE can have Cardiff start to buy assets from Drys at severe bargain prices.
The problem is... that taking share dilution into account, we're already "in the teens". That said, I expect that shipping rates will recover pretty well this year, so it is difficult to give a definite valuation. To answer your question, I just don't know.
Read the board we're always a couple of months away from the teens (or more) or BK.
The next positive catalyst will be the waivers and reclassification of ST to LT debt. (If the waivers are not granted, sharholders are screwed). Maybe a contract for one of the newbuilds (although I expect we'll still be discussing a NB for a while).
After that, look for the spin-off.
Any guesses at price will only be wild guesses, but I think there's greater mid to long term upside at this point.