One week away from finding out........how much the Arras shares will be valued at. Given that SVBL shares are currently in the process of tanking and that there didn't seem to be any rush to acquire new shares prior to last Friday's deadline for ownership for the spinoff, my guess is we will be lucky to see anything above 5 cents a share.
There will be a 1:1 spinoff, indicating that about 34 million shares will be spun out. Dividing by the .88 due to the 88% ownership of SVBL, this yields about 39 million shares total outstanding after the spinoff. There was just a $2.5 million cash infusion into Arras announced in April, this would indicate a value per share of over 6 cents. My bet is that the market trades this below cash value per share, or about my 5 cents a share estimate.
Sometimes we get lucky and the initial fervor surrounding a new issue of shares can boost the price past initial expectations. I would be quite happy to see 10 cents a share.