Not great but certainly not terrible - and I agree, that was on a huge leverage drop. Interest rates look to be between 2.6 and 3 for rest of the year so maybe with some stability they can start gearing back up.
Yes, they do if they bought yesterday. An incentive for the brokerages to move the shares quickly. It is a wash on the proceeds - 5.5+ million at 21.18 with having to pay divi or 5.5+million at 21 without.
Strange, after grinding up the entire day, an ATC sell dropped it 30+ cents. All the SO and overage moved today. Usually a good sign.
Public announcement was 21.18 but never got close to that price. Lot of demand - got 100 of an order for 21.25 lol. Maybe after the xdiv.
SO's are almost always priced the next day usually after the market opens. More often than not (it is not exact) the AH reaction is pretty close to the offering price. Now the market may like (look back at Telsa's SO price action) or not like it and the price tomorrow will fluctuate. There are not a lot of shares out there right now.
With the preferreds at 2.90 (and I own more than a few) I don't think there is much upside here.
I think the more important question than Bk - a binary yes/no but most feel that it is not an immediate concern - is restructuring. I own the preferred but if the company decides to restructure, they will worth the same as the common.... not much. The preferred is certainly trading as if it will be converted to common stock and not have the divi reinstated in the future.
Anyone own/been watching the DMpB? I got in early (well, way early it turned out lol) about 2 months then added at ~16 a few weeks ago. The volume was very large during the drop but the last few days almost no shares have traded.