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Southwest Bancorp Inc. Message Board

ringhofer2000 1 post  |  Last Activity: Nov 21, 2014 12:07 PM Member since: Jan 23, 2006
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  • ringhofer2000 by ringhofer2000 Nov 21, 2014 12:07 PM Flag

    The terms of the convertible issue just announced - which is only available to institutions- poisons the new common issue by comparison. Convertible is a great deal (assuming the corporation survives) since it is convertible at only $1.20, pays more than 5% in dividends while waiting, can be put back to the company if certain terms are not met, etc. This effectively caps the upside of the common and significantly further dilutes the shares. Given a choice, one would have to be nuts to buy the common. Unfortunately, the common was sold before the terms of the convertible were announced. I own the common and would fire senior management if I could.

17.07-0.25(-1.44%)Nov 21 4:00 PMEST

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