RE:RE:need a discussion here I think having the prospectus gives them some negotiating power to refinance and extend term or - some funds to buy below par convertibles.
with free cash flow able to cover the rest/maybe even some of their credit facility.
buy the convertibles for 4x your money. (Interest plus capital gain from 25 bucks) betting the debenture will be paid in cash at maturity. protect against possible large dilution.
or
hold the shares betting that the debentures will be refinanced - and the shares will appreciate considerably with profitability and de-risking as convertibles are taken care of.