The covertible notes valued at $219.7 Million.
On Sept. 24'th they paid $89.2 Million of the convertible notes "although they are not due til May 2013" this left a remainder of $130.5 Million.
With over $550 Million on their balance sheet my thought is they pay the remaining convertible notes off earlier than scheduled.
At that time the Hedge against JASO will have no choice but to cover.
...should be soon....now they can issue a whole bunch of shares....
With a reduced float "This will create a Big Upsurge in Share Price"
Even if they announce 1/2 $69.5 Million paid before the due date towards the convert will we see a "much" higher share price.
Feel comfortable holding your Short position Just know at anytime your profit from shorting can turn into a Loss position once these converts are paid!