Vero Energy Inc T.VRO

Why are shares not trading closer to $3?

[missihas]

Is it not basically guaranteed that VRO shareholders can sell their shares for $3?  So why is the stock price not reflecting this? What are potential outcomes if i decide to hold my shares over the next month as they transition to New TORC?

[filefish]

The 3.00 price calculation is an implied price based on the conversion of VRO shares to TORC shares. This is not a tender offer where cash or stock is being issued to VRO holders at a specific price. The equilibrium price now seems to be $2.65 based on the millions of shares that have recently traded at or within a few cents of 2.65. The difference between the 3.00 and 2.65 is the current