no.
we are entitled to take up the new share at 40c through the right. but the value of the "right" will be tradable, and i am guessing the it will be traded around 20-25c. although the theoratical value is around 16cents.
currently they were being being traded short (as some brokers allow that options to their clients) at around 20-21c today. most likely it'll slowly go up until 7/12/09 (last day of trade)
rghts trading, page-17
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