RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Convertible at 3.80 - meaning for Q3 ?shareholders1 wrote: "So Shareholders, the company disclosed non-public material information to potential investors without disclosing it to the market first?....not sure you can do that without going to jail"
- - Think of it this way: there was obviously advance disclosure of the $50m 6% debenture financing to the brokers (who will sell the debentures to their clients) as it was being considered, refined and finalized. The market was only told later.
The $50m deal is obviously material information (a material change to be more specific), but Raymond James etc knew of it before the market did.
Raymond James also has to sign agreements and are considered insiders so they can't buy on the market while privy to info.
It's just like banks (HSBC), they receive pro-forma info as well to issue the loans.