Sorry digi, the 15% off the pps is one thing. It is 15% of the lowest closing bid price 3 day average over the 7 days after the put order. So those shares will be much cheaper than 15% of the pps. Further when this goes to no bid how much are those shares? Easy to do the math with all those 0's.
That is all immaterial at this point because S1 has not been approved yet. Seeing as KQ is/was a member of JP Carey thinking SEC taking its time on this one or even holding it up.
If you haven't learned yet, most posts on a message board are in the writer's opinion. All of my posts are in my opinion (IMO)......do your Due Diligence (DD) and make up your own mind!