Amarin Corp Plc (AMRN)

[FlyFishingStocks]

JL - I don't understand how convertible notes work, but I was intrigued by your quote long ago:

The May 15 2014 change is as follows. $31 million of the aproximate $150 mil in notes will remain as the 2012 agreement states. The remaing $118 million in notes changes as follows. The notes exchange rate to ADSs is 384ADSs/$1000 principal ($2.60/share), but the notes can not be exchanged unless the PPS of the stock is $2.86 or above. Currently at a PPS of $1.37 the correct exchange rate would be 726ADSs/$1000 so this is not currently a bargain. Also the agreement allows the company to force the bond holders into converting or redeming their bonds at the companies discretion.

Does the fact that the pps sliced up through 2.86 mean that a potential 118 million in shares were grabbed via an exchange, thus exploding demand which further magnified the squeeze on commercial/retail shorts? Also, you mentioned that they deployed short sales to neutralize their risk while collecting interest on their note. If and when these note holders decide to exchange (once the pps rises above 2.86), don't they cover their hedge at that point? Am I understanding this correctly? Could this have been a key part of the perfect storm we are wittnessing with the orderly increase in the share price the past 3 days?
TIA