If the price must be $4 before the merger, I don't see how NSM shareholders can still receive the 12.3 WMIH/1 NSM ratio since that would still mean their value is automatically tripled.
From what I've read the NSM shares will be cancelled for the WMIH shares. Question is, will the issued shares to NSM shareholders be restricted from sale for a set period?
Could you post or direct me to the specific language stating this requirement?
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