PROLOR Biotech, Inc. (PBTH)

[bear20]

Won't the gap close between PBTH and OPK as the merger date gets closer? I just added at $7.12 this morning as I like the spread, but please educate me about how the spread will actually work. I know PBTH holders will get something like .997 a share of OPK, but is it from the date you buy (so I am locked in at 7.12 or no?), or what they are both trading at on the day of the completed merger. In another words, what is the cut off date if any... or is it what they both close at on the last day of PBTH trading (as to how the PBTH shares will be consumated or converted)? TIA

Long and Strong PBTH/OPK