Review: SEC filing proof that Holdings Common Stock will be used now and in the near future: Breakeven conversion price: $5 for 200 shares in exchange for $1000 of debt.
Why would the Debtors link Holdings Common Stock to a January 5, 2019 deal, if Holdings Common Stock did not have a future with Holdings?
The Second Lien Term Loan(s) are freshly linked to Holdings Common Stock!
If securities data is not in a SEC report, the securities data is not a fact.
As Holdings Common Stock increase in value, these Second Lien Term Loan will also increase in value.
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"UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549
SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. 75) *
Sears Holdings Corporation (Name of Issuer) Common Shares (Title of Class of Securities) 812350106 (CUSIP Number)
Janice V. Sharry, Esq. Haynes and Boone, LLP 2323 Victory Avenue, Suite 700 Dallas, Texas 75219
(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) January 17, 2019 (Date of Event which Requires Filing of this Statement)
. . .
Item 3. Source and Amount of Funds or Other Consideration.
Item 3 is hereby amended and supplemented as follows: “On January 5, 2019, the Second Lien Borrowers elected to pay interest on the Second Lien Term Loan by increasing the principal amount of the Second Lien Term Loan. In connection with this election by the Second Lien Borrowers, the principal amount of the portion of the Second Lien Term Loan held by JPP and JPP II was increased accordingly, and no cash consideration was paid by either JPP or JPP II in connection with this increase to the principal amount of the Second Lien Term Loan. As a result of the foregoing, (i) JPP may acquire up to an additional 559,095 shares of Holdings Common Stock within 60 days upon the conversion of the Second Lien Term Loan into shares of Holdings Common Stock, and (ii) JPP II may acquire up to an additional 255,382 shares of Holdings Common Stock within 60 days upon the conversion of the Second Lien Term Loan into shares of Holdings Common Stock.”
. . .
ANNEX B RECENT TRANSACTIONS BY THE REPORTING PERSONS IN THE SECURITIES OF SEARS HOLDINGS CORPORATION
Entity Date of Transaction Description of Transaction Shares Acquired Price Per Share JPP, LLC 01/05/2019 Acquisition from Holdings of Second Lien Term Loans 559,095 (1) (2) JPP II, LLC 01/05/2019 Acquisition from Holdings of Second Lien Term Loans 255,382 (1) (2)
(1) Represents the number of shares of Holdings Common Stock that may be acquired within 60 days upon the conversion of the Second Lien Term Loan into shares of Holdings Common Stock. Holdings’ obligations with respect to the Second Lien Term Loan may be converted into shares of Holdings Common Stock at the option of an eligible holder at a conversion rate of 200 shares of Holdings Common Stock per $1,000 in principal amount of indebtedness outstanding under the Second Lien Term Loan (subject to adjustment). (2) Holdings elected to pay interest on the Second Lien Term Loan in-kind by increasing the principal amount of the Second Lien Term Loan held by"
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