My cost bases were in the low $2's
I have sold 1/2 of my position for $7 right before merger completion, recouped my original investment and pocketed some gains, then received new stock at 1 to 1 exchange.
I am playing with the house money on my new holdings presently.
good Bill, I did the same thing but I bought it a month prior so I paid alittle more than you did but it the end we got 7.65 (net difference) which is more than what I paid. I was long anyway so i didn't mind holding the stub until I had a gain on those shares.