It would seem to me that if he was going to lower guidance it would have been better to wait until that announcement for the buyback. As for management buyout, maybe he doesn't have the money. It remains very curious as to why the offering was done in the first place. In any event it does seem that Shabtai has enough sense to sell high and buy low.
Audc did not pre announce bad news, which they have done in the past. I take this very favorably. Most likely they will be close to the published estimates for revenue and earnings. I believe that if they miss it won't be by much. On the other hand expectations have been restrained, and become outright negative after the sons fiasco. What you have here is a deep value proposition with a big growth kicker that will take off sometime in the next 6-24 months. In any event given the sons results, current value offered, big share repurchase plan etc audc is a stock with limited downside risk and a large upside.