RE:Trading activity in EOMIf this trading is based on credible information, then it implies a settlement / reward / buyout price of at least $500M - $600M. Because if my understanding of waterfall is correct, shareholders will gain nothing beyond that threshold - first are the debt & notes in line, followed by CVR + MIP to the minimum of (a) $460M or (b) 95% of the total $$. Shateholders come after that. So it follows that award has to be minimum $500M-$600M before shareholders get anything.
This is my understanding and interpretation. Please feel free to correct me if I am wrong.