In the short time I've owned OTT units, it's taken three runs to $1.80 and been rejected all three times. Can't predict short-term movements, but it looks like another attempt is near. One of these times it will break through, IMO.
Can you take me through what an OTT share stands to get in the new company? It looks like A common will own 92.5% of the new company and B common will own 7.5%. It looks like each IDS having a $7.5 note due 2019 at 13% interest will get 1 share of A common with the equity portion of the IDS (1 common share) getting cancelled.
So, how much of this 92.5% do these $7.50 notes account for in this equation. Is there other debt converting to A common shares that make up the majority of this 92.5% leaving old IDS common equity getting a small percentage of new company in the end.
In other words. If other creditors are getting 70% of new common and iDS is getting 30% of new common. That means that old equity is getting 27.75% of the new company via its ownership in A shares. Could you or someone show me what numbers you have including your estimated value of company and how many A shares you expect to be distributed?
I see a lot of accumulation taking place between $1.71-$1.75 since 4/15 (30 minute chart shows this well). It seems like a continuation of that big volume block on 3/25 at around $1.71. Then on 4/11 there was another big buy at $1.70 and $1.80. I'd take this as a good sign.
1Q info from the institutions is starting to come in. Barclays added 148k after opening a position last Q of 108K. Alot of institutions opened small (10k-50k) positions in the 4th Q. Wouldn't be surprised if they added to those positions in the 1Q. CI unloaded 200k in January alone. Pretty soon they'll run out of units to sell.
OTT is still only 13% institutionally owned. A tiny number for an issue with a tiny float. All it takes is a few to recognize the value here and OTT will not trade in the 1's.