This excerpt taken from the WNR 8-K filed Jun 10, 2009.
Spin-Off”), the Conversion Rate shall be increased based on the following formula:
CR0 = the Conversion Rate in effect immediately prior to the close of business on the last Trading Day of the Valuation Period (as defined below);
CR1 = the Conversion Rate in effect immediately after the close of business on the last Trading Day of the Valuation Period;
FMV0 = the average of the Last Reported Sale Prices of the capital stock or similar equity interest distributed to holders of Common Stock applicable to one share of Common Stock (determined for purposes of the definition of Last Reported Sale Price as if such capital stock or similar equity interest were the Common Stock) over the first ten consecutive Trading Day period after, and including, the Ex-Date of the Spin-Off (the “