The CAPA deal is done. As I mentioned here, the deal did not have much arb potential for the small money amounts I can invest (hey, I have a small bankroll). However, in my simulated portfolio, I did make a positive net on the arb play.

Entry point: 10/14/2008 @ $4.70/sh.

Exit point: 11/3/2008 @4.80/sh

ROI: 2.13%

Annualized: 38.3%

So, looking at it as an annual return, not too shabby. However, I would have only bought in for $2,500, so my net dollars in the bank would have been: $53.25 - $14 in trading fees = $39.25.

Another note: I have not actually completed many deals yet with real money, so I have no idea how long it actually takes for the deal to settle in my brokerage account. In the number crunch above, I do not allow for any delay in closing. I assume there will be in the real world though, so my ROI actually would have been slightly lower.

Sources:

Nwinnovation.com article