Time passes on, it's been 28 years since the company went public, they/we are perfectly positioned now to be rewarded for the last few years of turnaround.  

With the prospects "green", even an average IB firm could easily establish a proforma deal that would be immediately attractive to the concentrated group of shareholders. It wouldn't be a buyout and goodbye because of the IP technology. ELVA would be in stronger hands, more likely to get to scale faster and become what they always believed they are, the designers of the safest and best EV Battery in the world.

It just fits the times, with other large EV Battery makers having trouble with leakage (read BYD) fire abatement and shorter cycle life, looking to being part of a bigger well heeled parent is not an emabarrassment it is the right move.

Remeber this old Wall Street adage:

"Sell while you can, not when you want"