RE:Q results look great, so why the raise at 19 centsThe debenture holders would have, and if there is ever an equity raise happening after a deb deal, the deb holders are generally consulted and agree to terms. This probably allows the deb holders to get equity cheap, since the conversion of the debs is on the horizon if this company maintains its .45 avg over the course of the next 10 trading days. All that debt gets converted to equity, and is off the balance sheets.
So in exchange for not getting to maturity on the debt, they got cheap equity as a payoff. That's my thought.