How to make money buying convertible debenture ?
Option strike price at $USD14.85 for a total of 3,872,054 shares.
Assuming $57,500,000 at 5.75% interest rate = $3,306,250/year.
To make more money out of this deal, someone is going to take THER to Nasdaq and pump it up.
Then, they would sell option calls every month at various strike price throughout 2021.
At the same time, at monthly option expiry day, they would short THER freely without worrying about hedging, since they already hedged with convertibles. After option calls expired worthless, they would cover at lower price and then repeat again and again every month !
With this strategy, they will make a lot more than the annual interest of 5.75% !