Ligand Pharmaceuticals Inc. Trust Beta Contingent Value Rights (LGNZZ)

[joshin]

These are TR Beta Contingent Value Rights :
See the S-4 registration

http://www.sec.gov/Archives/edgar/data/886163/000119312509255012/ds4a.htm

As per registration there are 38,520,915 CVR's issued.

The 8-K states


"As a result of the Viking IPO, the Company will make a cash payment to the holders of contingent value rights under the TR Beta Contingent Value Rights Agreement, dated January 27, 2010 (as amended, the "TR Beta CVR") and the General Contingent Value Rights Agreement, dated January 27, 2010 (as amended, and together with the TR Beta CVR, the "CVR Agreements"). Pursuant to the CVR Agreements, the Company estimates that the aggregate cash payment will be approximately $3.3 million, subject to adjustment in the event the underwriters exercise their option to purchase additional shares to cover over-allotments, if any. The payment is expected to be made on or about January 1, 2016. "

if you divide cash payment/CVR's it comes to $0.086. So each holder of the CVR will get approximately that amount by Jan , 1 2016.