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SUNTECH POWER HLDGS Message Board

walt373 3 posts  |  Last Activity: Mar 23, 2016 10:24 AM Member since: Jan 14, 2010
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  • Reply to

    A Glimmer of Hope

    by sqzr Mar 23, 2016 8:49 AM
    walt373 walt373 Mar 23, 2016 10:24 AM Flag

    Actually the purpose of the exchange is to allow LINE holders to avoid the CODI that would be triggered when debt is cancelled in BK.

  • Reply to

    exchange offer

    by cyrus_norii Mar 22, 2016 5:53 PM
    walt373 walt373 Mar 23, 2016 12:28 AM Flag

    Shorts can just hold their short LINE position. If the owners of the shares they are borrowing decide to tender, their short LINE position will automatically turn into a short LNCO position. This is the same as if you shorted a stock doing a cash tender offer - you'd have to pay cash for any tendered shares. Except in this case you'd have to pay in LNCO shares. Shorts might even benefit from an exchange as LNCO is trading at a discount to LINE, so they'd pocket the difference. But the exchange expires on 4/18 which is after the 4/14 grace period deadline so LINE will be bankrupt by then anyways making all of this moot.

  • walt373 by walt373 Mar 15, 2016 10:21 PM Flag

    Thought it was due 15 days after the NT 10-K, which is today? Where is it? BTU can lose SEC registration and be delisted if they are late for this extension.

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