Fannie Mae-No Politics (FNMA)

[The Man With No Name]

They could use the last closing price, but they also could set 1 common = $1.00 before dilution. So you are right.

But psychologically, using $1.00 per common works better if the commons traded at $0.70 before. If they were still at 2.50$, using 1.00$ might be considered offensive wink

Most important is that the trading is halted, so they can do whatever they want.

They will do whatever they want regardless. The share price of commons has zero, zilch, nada damn thing to do with release and dilution. Zilch.