RE:RE:RE:Trading above parv_guerriero wrote: $2.5 Million traded in debentures so far. Equivalent to 1M common shares.
Debentures now just 2% above par, implying a 3.31 current common price.
Gap to common .80/share on a no tax basis or 1.00 on a tax adjusted basis. Insane.
Like I previously posted, the value of the "put" in the debenture is quite high and is absolutely a factor. A 45% premium to the common share value is about fair value on a debenture which has the coupon rate fixed properly. At around $2.60, we are right there.