QuestionWhy do the news releases/MCI keep saying 108 million will be the fully diluted share cap after the deal?
If 25% of the 88 million preferred A's have been converted on a 1 for 1 basis, hasn't this added another 22 million shares to the float to date? Now that the date has been pushed back a month there will be more conversion. Therefore the real fully diluted float cap will be upwards of 130 million shares after the deal. Seems to me the deal has been pushed back to encourage more 1 for 1 conversion in light of improving fundamentals and deleveraging efforts.
Sorry if this has been covered already but I'm sure there are others wondering. I am new here, can someone please clarify? Came across this via Global MCI and I keep seeing 108 million fully diluted.