I disagree 100% with whoever said that the listing of NGIO will not have an effect on NUGX. This is actually a perfect arbitrage with an option built in on top of it since the company's management can combine the two companies (there are some interesting caveats built in but I WON't go into it because it would be complex and I believe a little involved) with an automatic conversion happening within 18 months where the 2 classes of shares become 1. So the real arbitrage is the cost of the time frame (ie what minimum guaranteed rate of return would I ask for an 18 month lockup) with an additional discount based on the underlying level of risk which is quite small since they are short NGIO and long NUGX. As such there should be significant interest to professional traders/arbitragers and I believe a literally shrinking discount between the two classes as time goes by and as we get nearer to the actual conversion date. Anyway the discount should certainly not be greater to 30-35% due to the extended time frame but that spread will narrow significantly as time passes by