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Alias Born | 02/01/2007 |
Friday, February 02, 2007 1:19:55 AM
Look at it this way, you own or have the rights to hundreds of millions of shares of NEOM however those shares are restricted until a registration statement is rendered effective by the SEC.
You have one of two options-- hold and watch the value of the restricted shares evaporate on a near daily basis or offset the position by opening a equivalent short position; effectively rendering you "flat" NEOM. When the 144A is lifted on the restricted shares you can use them to cover your short position.
This is Trading/Corporate Finance 101 my friend.
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