The stock is trading up because of the DIP deal. The muppets are rushing in because they think the company is going to be saved.
What they do not realize, is that the DIP financing has a super priority in the order of recovery, so the common shares are now even more out of the money in getting anything back, since the DIP is ahead of the bonds, which are ahead of the unsecured, which is ahead of the common shares.
It looks like the company is going to be able to get up to $575 million, so with the $1 billion in negative stockholders equity, the company is at least, $1.5 billion in the whole, that would be needed before the common shares would get anything.
I think this also wipes out all of the trade debt with vendors and a large segment of the unsecured bonds.
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