Attention, those of you who own SINA Corp. (SINA): SINA is being taken private by New Wave Holdings Limited. The acquisition will include a buyout of $43.30 for each outstanding share of SINA. Because of this agreement, you should sell your shares of SINA on Trade Day, and Transmogrify if necessary. If you are able to sell your shares above your average cost, there is no need to Transmogrify.
We’re here to help! Here is a link to the Transmogrification document that will tell you step-by-step what to do.
Lattco PRO clients: Please use this link to access the transmogrification document for your accounts.
Also, please give us a call after you have purchased shares for your
new position and before your sell your options; we will need to make
some adjustments to your account to properly reflect the
transmogrification.
Lattco AutoPilot clients: At this time, trading screens for Transmogrification are not included in the AutoPilot system. You will need to log into Ally Invest to place three orders to complete the Transmogrification process:
- Sell your existing shares
- Buy the same amount of shares for your new stock
- Sell to Open a put at the top of the lower band to replace the purchase for the current month if you don’t own 10x your Level
Once this is complete please notify us and we will adjust your
AutoPilot account so that it can suggest the appropriate call option
orders.
If you have any questions, please don’t hesitate to contact us at
support@snideradvisors.com or 1-888-6-SNIDER. We’ll be happy to walk you
through the process.
