Ann: Desert Lion Energy shareholders approve merger, page-9

I discussed the arbitrage opportunity a couple of weeks ago, but the volume is very low (56.5k traded over the past 3 days). I don't know if @springinhetveld has bought all that volume, but it doesn't look like it's going to result in an early retirement.

When I discussed volume selling by ex-DLI SHs, @astavrou1 (and existing DLI SH) replied that most sellers exited as the SP fell over the past year. Her/his opinion was that the remainers were people who wanted to own the company, rather than traders.

My independent analysis also supports the hypothesis that remaining SHs are most likely to be long-term holders, so the pressure might not be as high as you speculate. Notwithstanding, there is still a small arbitrage opportunity.