RE:RE:RE:Aurora completes $230 million convertible debenture offeringlongonMJ wrote: rehsifylf wrote:
Here is the clause that will keep the stock below $17. Holders won't let this happen.
"The Company may force the conversion of the principal amount of the then outstanding Convertible Debentures at the Conversion Price on not less than 30 days' notice should the daily volume weighted average trading price of the Common Shares be greater than $17.00 for any 10 consecutive trading days"
Wouldn't this be the clause that ensures the stock price will EVENTUALLY get over the $17 mark for 10 consecutive days at least? Especially if it doesn't happen, the company would never be able to get their hands on that huge pot of money from the exercise of these warrants.
So far every BD and debenture has had forced conversion within months of the available dates to do it. All have provided ample time for the lenders to "play" the market with a safety net. All have provided opportunity for a dbl up or better for the lender and insiders.
The company wants the debt off the table and a clean(er) books. The lender is happy to take what has typically been a quick (months) dbl up or better. The shorts and day traders love it. The longs eventually love it because it is those raised funds that build our beast!
Raise $230m, invest it and turn it into billions. So far thats exactly what they have done.