InterDigital Inc (IDCC)

[jealmc79]

At the conclusion, IMO and correct me in how I am wrong, as of the September 30, 2023 valuation, IDCC will have added over $675 million in cash to the balance sheet according to the total Fair Value amount for both convertible notes.

Fair value is not cash. It includes an intrinsic value (time value) for the options and warrants.

The notes can be converted into either cash or shares. According to the 10q's, IDCC intends to pay back the principal balance of both notes ($126 million & $460 million, respectively) in cash, then settle the balance as they see fit. From the 10Q:

The 2027 Notes will be convertible into cash up to the aggregate principal amount of the notes to be converted and in respect of the remainder, if any, of the Company’s obligation in excess of the aggregate principal amount of the notes being converted, pay or deliver, as the case may be, cash, shares of the Company’s common stock or a combination thereof, at the Company’s election,

There's similar wording for the 2024 notes, just more confusing.