I also what to point out that GLPI also assume the majority of PNK debt as part of the deal that was secured by PNK former real estate holdings which makes PNK more liquid and less leveraged which now makes PNK mostly just a third party casino operating company with limited real estate holdings of their own thru a lease back deal.
Actually the previous closing pricing after the transaction was completed for PNK was 38.86 and 32.57 for GLPI. therefore 38.86-(.85x32.57=11.18 per share for PNK give or take a few cents since it's been trading after the spin off of the real estate transaction has closed.
Because if you don't convert and take part in the common shares proxy from the preferred, than you will lose it all in BK! They need at least half of all common and half of all preferreds to make this work. or their will be at least a 50% chance that you will lose it all. Do you really what to be on that side of the fence when the #$&@ hits the fan, then convert and vote your proxy ASAP YOU FOOL!
It's the same from what I understand. Like I said before from past experience, when a stock transcends itself from one of the major markets and exchange to the OTCQB it goes thru an adjusted period during the trading day. It should all be good for trading on the OTCQB exchange under the same symbol some time by this afternoon or first thing the following trading day when all markets and exchanges opens. the latest.