Friday, September 01, 2023 1:00:01 PM
It could, of course. But as long as the company has assets, these debt holders have priority.
And (I think all) of that debt is convertible. They will try to get back as much as possible. Shareholders will get the - possibly non-existent - rest.
"It's evident that its unlikely that it will ever be paid."
Is it? I don't think so. And it seems certain to me, that Mr. Kempers thinks he can get much more than 100 million for the company. Remember, he recently did put his money in the company. If he thinks that debt will never be payable, he would have destroyed his money.
Never.
I am sure he has at least one seriously interested company, but that company or companies are not willing to pay enough. Who could resent them trying to make a bargain. The problem seems to me, that there are no competing interested parties and therefore are not going to outbid each other.
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