Probably the best guess around. Interesting that they are going to Europe and the US for money. I do not want to sound overly optimisitic but it should be pointed out that 1) there is plenty of money out there right now and 2) try buying a good size position in WIBC shares; there is not enough liquidity to avoid driving the shares through the roof. Maybe the pricing will be $3.60.
The history of recaps points to an artificial depression of share prices right before offering is made. In this particular case, Yoo did all he could to depress the book value and earning prospect. Then someone else would depress share price further in the market. I don't know who or how, it always happens after the announcement of recap.
This creates a base--typically ten day average--on which offering is priced, usually around 10% discount. The way it's going we might see offering price closer to $3.