You get paid and the shares "go away". Think of the possible 2 bucks down the road as a dividend, with a much longer than normal payout date. As long as you hold a stock on the record date you get the dividend, even though it is paid as much as 4 years later.
As far as holding or not, that will depend on how the market values the 2 dollars. Right now you are only getting 30 cents for it...in my view that is undervalued. we shall see....
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