Have not asked the question that way, but I would think that in that case, your scenario of it being considered a concurrent stock sale would hold true and AIS would get their percentage of premium.
In any case, I think both companies are intriguing investments (and definitely did 30-50% ago on their stock prices). My main point is one should have some measure of caution about using AIS as the sole investment vehicle to capture the potential value of Libigel.
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