RE:RE:PIVOT BOARD PROVIDES FURTHER CLARIFICATION.. No, you can’t cash in your prefs from $0.70 at any time after the deal. The prefs are callable BY THE COMPANY at the higher of the face value ($0.70/ share) or the market value. So if they want to buy back all the prefs, the floor price it $0.70. If they don’t, anything can happen to the market price of the prefs and there are arguments for the price going up or down.
The important thing is the prefs aren’t callable by the shareholders so if the shareholders want to sell, they will have to sell at the market price.
risky wrote: So it means that after a year or 2 or 3 , or immediately after the deal, no matter what, i can cash in my preferred shares at 0.70 a share, but collect the dividend until then if I decide to hold them as long as I want.... Well at least that settles that matter, I can sell at 70 cents any time after the deal goes through. That part was not clear before. Thanks
At least we also know they are open for better offers better for the shareholder.
risky