1 right issued for every common share held 2 rights needed to subscribe for one new share
# of common shares outstanding on June 1:
3,000,000
Subscription price:
$15
Record date:
Monday, June 9
Expiry date:
Monday, July 7
Closing Market Prices for DDD Company
,June 2
15.50
July 2:15.20, June 3:15.65, July 3:15.25, June 4:15.45, July 4: 15.35, June 5:15.40, July 7:15.30, June 6:15.15, June 9:15.20
1. the theoretical intrinsic value of one DDD right on the last day the shares trade "cum rights"?
2. intrinsic value on the firstday the share trade ex rights?

Question

1 right issued for every common share held 2 rights needed to subscribe for one new share
# of common shares outstanding on June 1:
3,000,000
Subscription price:
$15
Record date:
Monday, June 9
Expiry date:
Monday, July 7
Closing Market Prices for DDD Company
,June 2
15.50
 July 2:15.20, June 3:15.65, July 3:15.25, June 4:15.45, July 4: 15.35, June 5:15.40, July 7:15.30, June 6:15.15, June 9:15.20
1. the theoretical intrinsic value of one DDD right on the last day the shares trade "cum rights"?
2. intrinsic value  on the firstday the share trade ex rights?