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Bullboard - Stock Discussion Forum Calfrac Well Services Ltd T.CFW

Alternate Symbol(s):  CFWFF

Energy Oil & Gas Equipment & Services
Calfrac Well Services Ltd. is a provider of specialized oilfield services, including hydraulic fracturing, coiled tubing, cementing and other well completion services to the oil and natural gas industries. The Company's segments include North America and Argentina. The Company's principal business is hydraulic fracturing of horizontal and vertical oil and natural gas wells. It provides... see more

TSX:CFW - Post Discussion

Calfrac Well Services Ltd > Conversion notes 10% to share at 1.33$
View:
Post by bruloil on Mar 20, 2023 3:25pm

Conversion notes 10% to share at 1.33$

mralberta
Do I read correctly: Armoyan & Mathison had converted a 10% note to CFW shares at 1.33$ while the market value was around $7. If so, a 43M$,note was converted into 249M$ value in shares as november 22 2022?

If so it would be scandalous.

What Is I do not undertsand?
Comment by Danzel88 on May 19, 2023 9:15pm
I am quite sure this is exactly what happened.  99% sure. It was scandalous but legal with how they carefully structured the re-finance. Basically screwed everyone over except for themselves (Wilks, shareholders, etc )
Calfrac Well Services Ltd
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