RE:Yasch or anyone that understandsTheKingReturns wrote: i know the terms for the new 150M USD loan are similar but does it prevent Prem Watsa from purchasing in open market? In previous terms, he could not purchase any shares in open market. Does the new term prevent him or is he allowed to accumulate more shares?
If he is allowed to purchase in open market, isn't this a win win for prem watsa since his average will be way below $6 since he can spend $150M to purcahse 30 million shares. Then he can further trigger $6 purchase for another 25m shares. He can get up to 55 million shares this way...better than the old terms.
At minimum he can get 25m shares guaranteed for $6.
can someone confirm this?
Yes we all know the answer. Read the disclosures. It's called do your own DD. A 4 month convertible at $6.00 USD is no bargain. You, or I, or anyone, could buy all the stock we want at that price. I'll sell you stock for only $5.99. On todays close of $3.67 that's a tidy 63.2% premium. Did you think it's convertible at 6$
CDN Maybe ? $150 USD debt convertible into 25 million shares is $6 USD per share. Or about $8.25 CDN. I'd welcome that purchase all day long.