RE:transferable rightssatuple wrote: If I understand the PR today 1 current share of CDB ($0.77 at end of last friday) will become 0.45 transferable rights which can be then turn into a common share at $0.54.
Seems to me that current $0.77/share will magically decrease to $0.54/commo share.
Am I right?
No... for every 100 shares you owned you will be gifted 45 rights to buy 45 common shares at .54, or sell the rights on the market.
Basically it is a win in that way but will be dilution of course so should result in a lower price once it goes ex-rights.