It looks like RMBS from 15 years ago, up 100 in ah only to fall to single digits in a few years, could be the same here if WS ever prices it like the retailer it is
I believe that is correct, I initially thought they would be marked to market but looking at the flip side if one were long and didn't exercise the rights that too would be a wash.
My UBS broker didn't understand it and gave me the phone number I posted above where I was told they expire on 7-2, though the person I talked to wasn't very forthcoming on info for those short the rights.
They expire on July 2nd, the June 26th expiration was from the early prospectus.
You can get all the info on the rights by calling 866-257-5415
They will be marked to market on expiration, the price of last trade on expiration and whatever difference from price on first trade less price on last trade will be the profit or loss, in this case so far near 50% profit
Failure of SRG will be bankruptcy for SHLD, the whole reason for the REIT was for cash SHLD desperately needs