...because they don't like their recent (i.e., much lower) share prices. They go private by buying shares at a lower price than the price of the shares they so

...because they don't like their recent (i.e., much lower) share prices. They go private by buying shares at a lower price than the price of the shares they sold in the IPO. If execs think the IPO price was fair, it's a good deal to go private.