Post by
VENMan on Nov 28, 2017 9:35pm
ACB recent $115 Million Debenture Financing
Look at the details in this ACB Financing. The debenture converts to common stock at $6.50 per share. Why is this important? Because CMED thought the $5.50 per share ACB used to value themselves was overvalued. CMED wants to protect shareholders from the big bad ACB Wolf that wanted to give you $24 a share or 4.53 shares. All CMED had to do was lock it in and it might be trading at $37.38 right now. 4.53 shares X $8.25 ACB shares = $37.38. thanks for nothing. ALL IMO! DYODD!!
DETAILS: ACB latest $115 M Financing:
The Debentures will have a maturity date of 5 years from the Closing Date of the Offering (the "Maturity Date") will bear interest from the Automatic Exercise Date at 6% per annum, payable semi-annually on June 30 and December 31 of each year. The Debentures will be convertible, at the option of the holder, into common shares of the Company ("Common Shares") at any time prior to the close of business on the Maturity Date at a conversion price of $6.50 per Common Share (the "Conversion Price"
Comment by
Mdaw94 on Nov 29, 2017 1:16am
Maybe the CEO will sweetin the pot with some old hip t shirts to the Cmed shareholders. That should soften the blow when the sp sits at 7 for the next 6 months....
Comment by
Raguu17 on Nov 29, 2017 11:49am
Even at the lower ratio of 3.74 it was a win for CMED holders. Not to mention the benefits of the combined efforts. IMO this is money vs ego. I still have faith it will happen. This defense from CMED holdouts should be expected. It is a hostile takeover afterall. Well sort of. 38% did sort of invite ACB in.