RE:RE:Dilution ? The question is, who the heck would choose to convert at the current price?
At the holder's option, the Debentures may be converted into common shares of the Company at any time prior to the close of business on the earlier of the business day immediately preceding (i) the Maturity Date, (ii) if called for redemption, the date fixed for redemption by the Company, or (iii) if called for repurchase in the event of a change of control, the payment date, at a conversion price of $5.50 per share, subject to adjustment in certain events (the "Conversion Price"). This represents a conversion rate of approximately 181.8182 common shares for each $1,000 principal amount of Debentures
filefish wrote: https://www.globenewswire.com/news-release/2016/04/11/1334510/0/en/Kelt-Exploration-Announces-80-0-Million-Convertible-Debenture-Financing-and-Strategic-Property-Acquisition-at-Progress-Alberta.html
Here is the original news release on the Debentures back in 4/2016 which explains the conversion and redemption features of this issue. I am not sure I completely understand it, but it seems that at the $5.+/share conversion rate , everyone will be taking cash, not stock. Therefore no dilution. Comments?