RE:RE:RE:RE:RE:new convert Given the state of the company, the 8% coupon is pretty darn attractive. But they paid for it dearly with such dilutative conversion privileges. Clearly they were negotiating to minimize interest payments and preserve cash, and going from $75m to potentially $100m (if overallotment is exercised) of this expensive capital isn't a great sign IMO. Anyone else surprised they're doing a new issuance? Current bondholders evidently weren't interested in playing ball.
I don't see how this trades much over $0.70 for the foreseeable future.