Not really. This is a reverse triangular IPO, which is a way for Altimmune to go public via an existing public company. PIP gives ALT shareholders 1 share of PIP for each share of ALT - 10000000 shares. Then, a reverse split to get the stock price above $4 for NYSE listing requirements. However many shares you have before the RS, you will have less. They mention 1:20, so for each 20 shares of PIP before the merger, you will have one share of ALT afterwards, worth $4 or more. That is all listed in the S4 at the PIP Investors page, along with everything else that any one of us knows.
