my guess would be a national tour (non-equity most likely) I'm happy I'll see it before it closes.
"Grease," the fourth revival of the season, is the worst show in the history of theater and represents an unparalleled assault on Western civilization and its values. - Michael Reidel
The "MUST CLOSE" and "Another announcement very, very soon" comments lead me to believe that this is having a second life somewhere. Whether it's Broadway or another venue, it just doesn't make sense to me for it to not even last through Labor Day.
It's very rare anymore for a show to just close, they always allude to an unspecific future anymore. Bridges will tour, Spiderman will go to Vegas, and on and on...
They have an album. That means they can license. This show may not have the second life CARRIE did, but it'll do okay in regionals and colleges, I guarantee.