TSXV:NYX.DB - Post by User
Comment by
Elliott4thon Nov 16, 2017 2:03pm
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Post# 26978397
RE:RE:Will Hill
RE:RE:Will HillNot true. There is no cash exchanging hands upon conversion its a non-cash conversion. The conversion price was pegged at 2.75 and PIKs at 6% per annum. There are collars around the conversion that prevents WH from getting diluted. The original 187m was struck at 2.75 and the pick interest gets converted based on the average trading price. Since the price of the stock was below 2.75 WH could not convert but there is a change of control which allowed WH to convert. There is no cash coming to NYX if the deal doesn't close.