The rights will convert to regular shares when the merger happens. The ratio will be 1 share for every 10 rights. I am not sure if the conversion is automatic or if you need to contact your broker. With today’s valuation, the rights provide a good value. For example:
Rights are trading at $1.25 and the stock 26.38. 10 rights will cost you $12.50. You are buying a $26.38 stock for $12.50. This of course assumes there is a merger. If no merger and Big Rock has to fold, the rights are worthless. Many people are speculating that is the reason for the discount between the price of the rights and stock.
I am not that tech savvy so am unable to attach the document. You can find it on the sec website. Go to sec.gov and look up company filings for brpa. It is in the 10Q on pages 15 and 16. The merger document is also worth reading before investing. It’s a long read but well worth it.
This is my opinion only. Please do your own dd before investing.
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