Suppose someone purchase BMSN by the 13th and is on the record books to receive Regen shares by the 18th. BMSN PPS skyrockets and they decide to sell their shares on, oh lets say, the 21st. Let's assume the distribution date for the divy shares is April 1. Will this person still receive Regen shares because he had BMSN shares by the record date (however he has now sold and no longer owns BMSN on the distribution date of Regen shares)?
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