Shareholders should receive 1.9048 share of the "new" SRC for each share of the "old" SRC
At least according to my contact at Schwab. If you held fractional shares, that will be paid out in cash. It's strange to me that the company didn't specify this ratio in any of the press releases I could find.
they referenced teh ratios in various places but I never could figure why they went this direction instead of Cole into Spirit. Now it looks like SRC is falling like a rock when it may or may not. It will likely fall when old Cole owners get their shares credited and can trade.