Amarin Corp Plc (AMRN)

[venus537]

https://www.fool.com/investing/2018/10/19/what-is-a-contingent-value-right.aspx

"When an acquiring company decides to issue contingent value rights as part of a merger or other transaction, it can issue them in two ways. CVRs can be either non-transferrable or traded on a stock exchange. The latter are much more interesting for investors, but less for companies in the deal. Unfortunately, most contingent value rights are non-transferrable, because the issuer does not want the hassle, increased cost, and disclosure requirements associated with them trading on an exchange.

To receive nontransferrable CVRs, investors must own stock in the acquired company when its stock is delisted from the exchange as part of the takeover. Those CVRs are paid out as part of the merger consideration (along with cash, stock, or whatever else was agreed on) and then held in the investor's brokerage account but may not be sold. If the payout milestones are met by the deadline, the payout will be deposited in the account. But, as noted, that might be years down the road.

Transferrable contingent value rights are much more interesting because investors don't have to own the acquired company when the merger closes. Investors can purchase this kind of CVR right up until it expires and is delisted from the exchange. Like stocks and other securities, the price of contingent value rights will fluctuate based on investors' expectations and whether the milestone is surpassed."