RE:Convertible preferred share issue ??And what would Crew do with the billion of $? They have a $185M Line of Credit. It should be fully paid sometime in July 2022, and Crew does not want to accelerate its drilling program for this year. I would have thought they could spend $25M or so and get the money back before the summer next year. Seems like a no brainer to me, but I guess I am missing something.
Oldnagger wrote: Here is my idea : Issue one billion dollars worth of convertible preferreds at about 3-4 % coupon rate
Convertble 100 years from now at the rate of 1 share of Crew per $1000.
Proceeds can be used for future development of Crews extensive properties. which are adequate to last well past a hundred years.
Profits to pay for the converts will be tax shielded by Crews extensive tax pool and further depreciation allowances.
The conversion rate of 1 share per $1000 may be overly generous, but a hundred years from now , who really cares??