It would be converted into shares of the ACQUIRED company.
Perhaps, there are two ways the Reverse Merger can go. AMDAQ shares vanish if acquired by another company. The other company's shares vanish if acquired by AMDAQ. But, we were speculating that AMDAQ want to be acquired by a public company so AMDAQ's shares would vanish. If it doesn't happen the way I think in my latter statement, let me know.
It's called a confidence game. Why? Because you give me your confidence? No. Because I give you mine. -House of Games (1987)
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