Here is the 8K from BSHI, where stock holders approved the reverse and forward stock splits at the annual meeting.
Today, numerous shares traded hands at a price that is significantly less than the $7.65/shr buyout that was offered by the board for accounts owning less than 100 shares of stock. There had been significant volume in the days before the meeting, yet, the price was not where it should of been- super close to $7.65/shr.
I am somewhat surprised by this, but I openly suppose that the people smart enough to do this sort of thing, either don't know about it, don't have the cash laying around in their broker accounts, or are not enticed by making a few hundred bucks. As I have said before, you can do this over multiple brokerage accounts, and further your arbitrage; I did so with 5 accounts. At my cost basis, I will make ~$700 bucks, over the course of a few months, having tied up little capital, and in doing so, took on a minimal amount of risk on my invested capital.
It may make me cheap, but the way I see it, I just paid for my hotel, plane ticket, meals, AND boozing money for the VIC in Pasadena. :D
EDIT: Looking back on it, I probably should of opened a plethora of broker accounts to take advantage of this; literally, I should have spend a day doing nothing but devoting my time to play this arbitrage.
Disclosure: I own shares of BSHI. This is not investment advice. Always do your own research before doing anything I write about.