One final try. Based on my experience with sale/purchase of ex...

One final try. Based on my experience with sale/purchase of ex div shares in Australia the broker makes the relevant adjustment to the share sale/purchase price. So it remains correct to consider the ex div date as 9th Nov.

Assuming price adjustment day is 9th Nov the drop is unlikely to be the full amount of the dividend. This is an empirical observation for both US and Australian shares. One possible reason for this is that shareholders prefer capital gains to dividends because of preferential tax rates for capital gains.

The share price drop-off is a market determined value linked to the number of shareholders who can take advantage of the LT cap gain concession relative to those who cannot. (The math doesn't change if we look cap losses since it is the marginal situation for each investor that matters)

If the US LT cap gain concession is 50% as in Australia (actually it is more complex in the US)the drop off could be as low as half the $1.11 dividend amount ie approx 56 cents. This is unlikely. The market determined price is likely to show a drop off of somewhere between 56 cents and $1.11, say 84 cents (midway) leaving an ex div mkt price for NABI of $0.91 ($1.75-0.84)...$5.46 after 6x consolidation. After the consolidation this would give an indicative price for our old biota shares of $0.68 (0.91x6/8). This is probably the ballpark we might have expected. But given the variable outcomes observed in dividend drop off studies + or - 10c from this value cannot be dismissed.

I hope this helps a very confused situation.