It would seem that you are stating the obvious, OJ. However, the prize behind Door No. 3 (so to speak) is the appraised value of NI-O. The GNBT divvie was $3 HOD on 12/3. We had some sense of the pps because GNBT closed at 18.99 on 11/30.

NI-0 will have no closing price on 2/22. Suppose there is a major accomplishment announced by NI-O (AE37) before 2/25. What does that do to the initial pps? It could open at .50 or $5. Personally, I have no idea. However, I want my share of the shares so that I can invest along with Merck and Shenzhen.