Taking the company private would require the shareholders to approve the proposed buyout. I don't see that happening at all at the current price and it's a worse case scenario at best.
You would see a R/S of the shares first IMO along with a drop of the GRAF shares and I am still not sure how shareholders will be reimbursed for the conversion gone awry if that were to happen.
It's all speculation at this point, I don't believe there has been a definitive signal telling shareholders to exit, that would come from a PR outlining a proposed buyout/tender offer along with reconciliation of the converted shares to GRAF.