To date, holders of pre-merger AMR Corp, shares, ticker symbol AAMRQ, have received 0.5576 shares of American Airlines Group, AAL, for each share of AAMRQ they held on Dec. 6.
As we all remember, the initial Dec. 9 distribution of 0.0665 of AAL shares for each AAMRQ share panicked a lot of AAMRQ holders who didn’t realize that it was only the first of at least five distributions.
But before the 120-day distribution, the 0.5576 shares of AAL were worth $19.95 as of Tuesday’s close, compared to the $11.39 closing price of AAMRQ on Dec. 6.
We’ll know late this afternoon the final distribution, but J.P. Morgan analyst Jamie Baker tossed out a guess of 0.185 shares when he looked at the situation last week, based on the volume-weighted price of AAL shares as of that time.
While the 120-day distribution is the last scheduled distribution, more shares might be distributed if there is any money left in the unresolved claims pool that was set aside to make sure all creditors and claimants were fully repaid.