At the current share price of $23.75, the enterprise value based on 34.8M diluted shares (#msg-133605186) and $174.7M pro forma cash (#msg-133604865) is approximately $650M.
(34.8M)($23.75) - $174.7M = $651.8M
“The efficient-market hypothesis may be the foremost piece of B.S. ever promulgated in any area of human knowledge!”