Cj my 2 cents
The deb holders are long term investors of CJ
Believers....
They entered the Deb knowing that they were holding for 2 more years (dec 2022)
these are not flippers
if the deb holder wants out they can get 105 per deb today
so i am almost sure all will get converted
these wont stress the share price imo
new out standing goes to 144 mil
still a very tight float
When the dust settles we have the following
28.2 million in debt GONE !in one swoop
off the books completely
oil holds up
year end exit on Credit Line goes from 200 mil to new balance at year end 135-145 million apx
only other debt is 16 mil to edwards and insiders with almost 2 years to deal with
betting they will be forcasting FCF of 80 - 100 mil for 2022
Pretty sweet numbers for a mid size oil company
sounds like a 3-5 dollar stock to me
with a divy
I hold both shares and deb almost equally
I will not sell shares or play with shorts
I will convert all of my debs and hold on to all of the shares
My total holding is cj will remain almost the same
i think most deb holders will do the same
good luck to all