I spoke with PTX IR today and the conversion is .4777 shares of PTX for each share of SOMX. My break even will be when PTX is at 8.92. Will check in on CC March 18th to see what PTX is all about now that I am a PTX holder.
This was a bad deal for the Somaxon shareholder, unless Pernix starts to increase in share value and issues some dividends. They have a targeted price of $12/share. It will take Big Pharma to buy them out to ever get a real pop on this stock. They better hope that Silenor becomes an OTC drug.