Ivanhoe Capital Acquisition Corp. Warrants each whole warrant exercisable for one share of Class A common stock at an exercise price of $11.50 per... IVAN.WS

How Ivanhoe Goes Bust

[Oregonduck]

Bob Friedland has committed a self-assisted suicide move by filing under Canada's Bankruptcy and Insolvency Act (BIA) rather than the Companies Creditors Arrangement Act (CCAA). This meant it is officially bankrupt. The assets will be sold off. The major creditors are the debenture holders who are owed about $73 million plus accrued interests. Shareholders will lose 100% of their money after the BK is over. It is a surprise that IVAN is still trading and being bought by speculators at US$0.44 a share even though there is zero value in them shares. No shareholders will get out of this BK alive. I think Friedland, a billionaire, is trying to stiff the debenture holders and shareholders & re-capitalize Ivanhoe after the debts are gone and he will then pick up the pieces. Don't go dumpster diving for this worthless stock. I guarantee IE will not re-open here & will be delisted by TSX. It is a different story though at OTC-Pinks as they would allow bankrupt companies to continue to trade. DISCLAIMER: I hold no longs or shorts.