Market clearly doesn't get this conversion--no impact on book--no disolution--trading a liability(bonds) for equity--its a wash on the balance sheet. Will impact EPS going forward, but at the market price it was probably a good deal. If you believe in management, a great buying opportunity
Sme20, considering the big drop in share price this morning, it's apparent a lot of shareholders don't agree with you. Your post is upbeat on the announcement but short on enough detail for someone to consider this a great buying opportunity. Does the deal mean common stock dilution? What are the pros and cons affecting common shareholders? Too much unanswered for me to consider this a blessing. At the moment, it looks like common shareholders are taking a bath. I guess we shall see.