Does this mean that each shareholder should receive a dividend check for 3.37 per share and then a second chec

Question

Under the terms of the merger agreement, each outstanding common share will be converted into the right to receive $11.00 in cash, less the amount of any pre-closing dividends paid with respect to the common shares, which are expected to be $3.37 per common share in the aggregate. Does this mean that each shareholder should receive a dividend check for 3.37 per share and then a second check for 7.63 a share?
Hoping someone can explain. Thanks

Company is Boykin.

Answer 1

That is what it sounds like. Next time you ask a question like this -- provide the name of the company. If I had that, I could give you a more definitive answer.

Answer 2

Sounds like you got it right to me.