Vanguard Natural Resources Inc. (fka VNRRQ)

[boston127]

X-ray - I'm a bit confused. Why would

anyone own commons shares if they are getting cancelled?

Is "Existing" common getting cancelled?

Yes. "Existing" common shareholders will be cancelled and "New" Common will be issued. "Existing" common shareholder's will receive a warrant or right to buy "New" Common shares.

What will be the formula to determine how many warrants each shareholder receives?

The formula is "No. of existing shares * 3%" That's it. On page 29 of the Second Amended Joint Plan of Reorganization dated 5/31/17, it says ...
Quote:

Common shareholder's to receive warrants for 3% of "New" common.
So what are these warrants worth?

Presuming OS is still 131 mil , the warrants are worth between .014 -.04.