RE:RE:Name changeMakes sense. Could also be to trigger shorts to cover maybe...a name change brings a CUSIP change.
The CUSIP number is assigned to each issue and may need to be changed when there is a:
- Change in company name;
- Reorganization;
- Merger;
- Forward stock split, when payable upon surrender of certificates;
- Reverse stock split; or
- Emergence from bankruptcy.
a CUSIP change could force the cover of NSS positons if the change is done in conjunction with a name change. It is my understanding that the mechanics of the CUSIP change (with name change) would effectively prevent trading shares of the old CUSIP # and would create an entirely new set of shares through the DTC. By doing this, the DTC is forced to account for ALL of the old shares exchanged for the new shares. Without the name change, the old shares would simply be renamed. With the name change, they are physically exchanged which will isolate phantom shares and force covering https://investorshub.advfn.com/boards/read_msg.aspx?message_id=82107281