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Re: mrfence post# 559991

Monday, 09/16/2019 12:32:46 PM

Monday, September 16, 2019 12:32:46 PM

Post# of 801308
Bryndon has it wrong here because he is somehow tying together the warrants with repayment of the seniors. They are separate things.

It is the seniors that bore the 10% dividend rate, and FnF have repaid those. But the warrants don't have anything to do with repayment. The seniors carrying a 10% rate does not at all mean that Treasury is limited to a 10% return on the whole thing.

He also threw in plenty of that "warrants are a taking" garbage to boot. A pretty terrible post all things considered.