So many of you are more knowledgeable than I am.. I need some help... Why would I - we want to tender our shares for 13.50 if we can sell on the open market for more??? Will we still get the CVR's if we sell on the open market???? OR will whomever buys our shares receive them??? (when they pay out)... I believe I read that the CVR is non-transferable.. Never been through this... Confused and want to make the right decision... Thanks in advance for your input..
If you sell on the open market you do NOT get the CVR (your second guess was correct). That is the reason the stock trades above $13.50
You have 3 choices.
A) You can just sell your shares via your broker as normal. Though the price seams locked into the 13.70-13.80 range, I do think there is a decent chance for it to go up another .50 or so. As such, you might wait a while.
B) You can tender your shares by signing that form by early Sep. If so, you will get $13.50 in cash by mid Sep, and a CVR which MIGHT pay you up to $2 in Feb '17
C) You can do nothing. In this case CBST will take your shares for the same $13.50 + CVR as in B. The difference is that you do not get paid until mid Nov or so, but also you would have the chance to sell in those 2 months if you see a good price.
There is not a big difference between these options, a lot has to do with your personal time value of money and nobody can help you with that.
"..but also you would have the chance to sell in those 2 months if you see a good price."
Not the full two months. For a good part of the time between when tendering shareholders are paid and non-tendering shares are paid the shares will be cancelled, the stock will be delisted and former shareholders will be unable to trade or collect the proceeds from the buyout.
i need some help as well. im still an investor newb and not sure what to do. I havnt been a long term investor with tsrx. maybe little under 2 months. I only have 500 shares, and so far made $1200. I only have a ira account and not a reg. brokerage account.. I could really use the advice on what to do...