"Valid stock under old cusip must be returned and re-issued under new cusip number thereby eliminating the imaginary naked shorted stock trading under the old number."
“thereby eliminating the imaginary naked shorted stock trading under the old number“
Not sure what you talking about? A naked short position, if there was one, doesn’t “trade”. It’s a fail before the RS and remains a fail after the RS if it still exists…but in the case of MULN it would be less by a factor of 25. After the RS the fail can be removed by delivering post RS stock.
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