If the cap stays the same, then yes that would be the case; although typically on these round-up plays you make far less than that.
UNTF (Now WUHN) is an example of that. If the cap had held the same, then a $25 investment (after transaction fees) would have netted a couple thousand dollars. Instead, after all was said and done, I netted a little over $300- not bad, but not the thousands that I had dreamed of... but I was still ecstatic to get what was essentially free money.
Here is a word of advice, or rather a request. DO NOT CALL THE CEO OR THE T/A TO VERIFY THE CONDITIONAL ROUND UP! It just pisses them off when you let them know that people are taking advantage of the special provision- and despite having filed a DEF-14A, they can still reverse the special condition if it is written in the by-laws and the r/s has not been filed. It happened to DSNS. The CEO was irritated with constant phone calls from people bothering him about silly questions regarding the conditions of the reverse split.[ I talked with the CEO (Glenn Little- who seems like a nice guy) after the fact and he essentially said as much, although in a humorous, polite way. ]
End note: Special round-up shares often take time to get issued- it's usually because of communication and filing issues between the transfer agent and the broker. Expect to wait 30-60 days, depending on your broker to receive your round up shares.
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