Delcath Systems Inc (DCTH)

[fabius]

"agreed to temporarily reduce the conversion price for conversions at the option of the holders of Notes (the “Conversion Price”) to $0.32 per share of the Company’s common stock, for a period commencing on January 26, 2017 and ending on February 1, 2017 (the “Reduced Conversion Period”).

The Required Holders also agreed to certain volume limitations on sales of the Company’s common stock thereby during the Reduced Conversion Period. "

From the word "Reduce" : It seems that the floor was likely to be 0.80 (0.05 before R/S), and they likely allowed for lower conversion prices (illegally) and they are now trying to fix it in someway.

They also probably have been caught by surprise from the dramatic price action, as desumable by the limitation on the sell volume of new shares.

Now the floor looks to be 0.32 but it is clear that the company has been scr...ed up big time by some hedge fund.