This is NOT a cash offer for $8.93. The final amount will be point .55 shares of VNR times VNR closing
price on the closing x-date this quarter. Do the math.
The $78 plus, was based on Friday's 10th closing price. That price X 1.09 shares plus $3.37 per share.
This is not a cash offer for $3.05, VNR is paying 18.50 shares. Final price is set on
the x-date of closing. Based on VNR Friday close @ 16.60 shares worth $3.071 this
will change daily up to the closing next quarter.
$3.05 is not a sure thing. You get 18.50 shares of VNR valued on the x-date of closing.
If VNR @ 17 = $3.145 or if VNR @ 15 = $2.775 not your $3.05
All things being equal, on ex-div date NTI should be down by $1.08. But, other things
can happen on that date (14th) that can effect the price. FYI, the seller on that date gets
the distribution. The buyer does not.