RE:RE:RE:RE:RE:RE:RE:Shares Status Not the same…
I did not read the restructuring proposal in depth but they give a certain % to the debt holders in lieu of the debt. Then they need to raise approx. $586M I believe how – private or public placement of shares don’t know. And the existing shareholders will get 0.35% of the newly recapitalized company (ownership). I believe this means new shares, not sure if new symbol or no.
As no one knows (besides insiders/debt holders) what will be the diluting factor and how many shares will be needed for the $586M rase but current shares are worthless, not sure why would someone buy them – 0.35% of the new float - this is nothing!! This really is bankruptcy, and they throw some crumbs to the existing shareholders…
The play here can be after the new shares are issued and see if they can show revenue growth then you can have multi-bagger. But have to wait for few earnings to see the trend, so far they are losing money so I will just watch from the sidelines.