Dont forget they have to buy the Nov futuers in 10 days. That will take over 1.00 out of share price on top of the 1.25 premium. So there is 2.50 loss built in. If you thionk NG will go up more than 45% by end Oct then this is a good investment.
True it is not clear whent hey will get the swaps together to release the new shares. Shouldn't betghat hard, I wouldn't think.