@YM4208 I just got confused n the short shares and cover shares definition. If I were to sell 1000 shares of planet, i would make 23.49% out of thin air if i put the proceeds of the 1000 shares into NXGWF.
@EatMyDongus00 that's the gist of it. Cover shares just means the number needed to offset a short position after the deal closes and shares convert. The same math applies if you were already holding Planet shares and sell those, then buy NGW. With a direct conversion, you just buy offsetting share counts. You could do an over conversion, where you buy the same dollar amount. You end up buying more NXGWF shares than are needed to offset PLNHF and those additional NXGWF shares convert to a long position in PLNHF
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