What is their status? Are they required to cover at the finalization of the sale? TIA
No, they are all set. Will be covered at 2.85
lol No they aren't ! You better read up on tenders. Those shares are borrowed and have to be returned.
They will have to cover by the tender date! This stock will no longer exist! They are searching for shares now.
Just talked to tdameritrade...they said shorts HAVE to cover before sale is finalized and the stock is no longer traded. I'd say that now puts us holders in a very good spot.
If there are so many shorts covering then y is the price down everyday?