Invesque Ord Shs T.IVQ

Invesque Inc. Announces Transformational Proposed Amendments

[pozirk]

Big news and no one is discussing? :)

IVQ is offering a haircut to debentureholders with this new proposal.
But why do they say that Magnetar is also taking a discount with its preferred shares?

Total gross proceeds from preferred shares were $86m, but Magnetar is getting almost $115m in shares.
Doesn't look like a discount to me.
Any ideas?

[pennydredful]

likely   the dividends   on  the preferred   are  substancially    in   arrears    so the extra  shares are to cover   those   arrears ?

[pozirk]

Yes, you are right, that's the response I've received from the company.