How do they afford to raise distribution with all the added dilution from 1.25 to 1.68?
The original promise to raise when deal was 1.25 is now gone. Their ability to rasie went from 40 cents to 16 cents. That is so close, I doubt you see any increase at all.
(1) profit taking. Some jumped in last week when it was climbing up and are taking profits from last weeks huge jump. (2) If you want to own LNCO long-term, it would now be far better to buy shares of BRY which will earn you more shares of LNCO at time of merger. Straight up, (at least this mornings digits), if you bought 800 units of LNCO, those would be 875 LNCO units if you bought them through BRY. Stinks for LNCO holders, but it's true.
I'm still long LNCO and content with the unit price jumping up upon completion of the merger. Depending on timing, I'm also happy to be receiving monthly dividends in the meantime, which may make things closer to even -- again depending on timing and which goes up/down between now and merger date.