Some of it depends on the toxic convertible agreement, but we already regularly see conversions in the six digits, sometimes more. I believe I recall one instance that utilized a percentage of VWAP calculating the conversion price out to something like 12 digits - which is pretty ridiculous as that is a fraction of a cent of principal.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.