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Post by straightly on Nov 9, 2017 20:57:22 GMT -5
Once the shelf is approved MannKind can offer a conversion feature with the preferred without having to dilute until converted. Why? So tbat we can set the conversion rate at $3.25 and create another class of motivated short sellers who has the guarantee of a bottom? Dillution is not bad for the right price. The $57.7m is a good deal.
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Deleted
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Post by Deleted on Nov 10, 2017 1:53:45 GMT -5
With a negative balance in retained earnings the preferred cannot be offered with dividends. Therefore, the only option is a conversion feature.
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