You are correct! I apologize for the oversight; my sheet was calculating EXCH price as The Reserve * 1.03 which, up until this period, would have been the same as the new NAV/U * 1.03.

However, with there being no SELL Dividend this time (due to the deficient Reserve), these amounts are now divergent.

There have been 256 units sold today at this higher price. I will go through tonight and refund the difference to the four users who purchased EXCH units at this price.

Thanks for pointing that out!