The first red highlight, states what the share price of ACB will be just prior to the completion of the deal, and that share price will be used to determine how many ACB shares we get.
The second red highlight is where they are coming up with what amount of ACB shares we get, WOULD it happen today, based on ACB share price as of Sept.7th.
And yes, we may be in limbo for a while. They expect to wrap this up in the last quarter this year. Oct. Nov., maybe Dec.
So, yeah, if ACB share price is higher at the day before transaction wraps up, LESS ACB shares for us...but still a value of $1.95
Deal sucks, unless you buy ACB as a wonderful stock to hold....Merry Christmas!
Terms of the Transaction
The Transaction will be effected by way of a plan of arrangement under the Business Corporations Act (British Columbia) (the Arrangement). Under the terms of the Transaction, each shareholder of ICC (ICC Shareholder) will receive $1.95 per ICC Share, payable in Aurora Shares valued at the volume-weighted average trading price of Aurora Shares on the TSX during the 20 trading day period ending the second to last trading day on the TSX immediately prior to the Effective Date (as defined in the Arrangement Agreement), being the date the Transaction is completed (the Aurora Share Price).
Pursuant to the terms of the Transaction, based on the volume-weighted average trading price of Aurora Shares on the TSX during the 20 trading day period ending September 7, 2018 an ICC Shareholder would receive 0.2448 Aurora Shares for each ICC Share held, resulting in Aurora issuing approximately 36.2 million Aurora Shares (fully diluted, treasury method) in connection with the Transaction, representing approximately 3.6% of outstanding Aurora Shares after giving effect to the Transaction (actual number of shares received and issued will be based on the volume-weighted average trading price of Aurora Shares on the TSX during the applicable 20 day period preceding the completion of the Transaction).
The Transaction is subject to the approval of the Supreme Court of British Columbia and the approval of two-thirds of the votes cast by ICC Shareholders at a special meeting to be called of ICC Shareholders to approve the Transaction (the ICC Special Meeting).