GREY:BXEFF - Post by User
Comment by
Don2018on Mar 29, 2019 5:41pm
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Post# 29556687
RE:RE:Just1Question
RE:RE:Just1QuestionJust1Question wrote: Don2018 wrote: The key sentence is;
The existing shareholders, all 80 million of them, will hold 16.5% AFTER the recap.
Sorry.
I have asked Investor relations to clarify final shares, but under that scenario we would have:
80.91/.165 is 490.36M shares outstanding
Senior Unsecured getting 250.1M shares for $47.8M or 19 cents per share
Convertible Debenture 159.4 M shares for $62.2M or 39 cents per share
Average paid: 409.5M shares for $110M or 27 cents per share
How does that look to you?
The debentures are only trading for 60 cents on the dollar, and the NR mentioned only $50 million of face value, so that comes down to $30 million.
So those shares, like the senior debt shares, will be obtained for less than 20 cents.