OTCQX:MRVFF - Post by User
Comment by
Cdninvstron Feb 08, 2010 7:25pm
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Post# 16764499
RE: RE: RE: convertibles
RE: RE: RE: convertiblesC'mon Consultant. Risk adverse lenders don't buy the debt of unprofitable companies. Lets look at this from the bondholder's perspective. They bought their bonds back when the share price was something like 15 cents. At that share price the deal was that they could convert at the 13 cent price. A few cents per share cheaper than the going rate to take on the added risk of owning shares rather than bonds. These bondholders bought the debt of this company when its back was against the wall...no profit...no pennsaid FDA approval...WF-10 failures. These people deserve the 13 cent price if they so choose to convert. I'm wondering about the timing of this buyback, given the lacklustre share performance of late, but if you believe like I believe...like the bondholders believed way back when the share price was 15 cents....in the long run Nuvo will be a winner and we'll all make money. That being said, I'd be happy to see Covidien take us out for as little as 75 cents per share.