If AMBS is in the position to pay a .05 cent dividend, I am not sure I would happy to receive it. If the company kept the 40m in cash rather than pay that dividend the share price appreciation I think would provide a much greater return than burning cash to pay a dividend. Unless of course 40m somehow/someway becomes a drop in the bucket vs. their cash position. But if it isn't, I would hate to see them payout the lion share from the proceeds of something to shareholders.

There is also the question of receiving shares from a spin off. How many people think AMBS Dx has more upside potential than an AMBS Holdings? Of course you can sell and just buy more AMBS, but it is impossible not to lose a little during the transition due to fluxuation.