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1manband

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1manband

Re: Imagineer66 post# 13649

Tuesday, 10/04/2016 4:39:08 PM

Tuesday, October 04, 2016 4:39:08 PM

Post# of 13692

Olds bonds to New SD. Anyone know the rate these were exchanged?



It depends on which ones you owed. The secured notes received new convertible debt (which will convert to 46.5% of the company in no later than 4 years) and 85% of the new common shares. Unsecured note holders were lumped in with the general unsecured creditors and together they received $10 million cash and 15% of the new common stock.
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