Share update:
There are 90,556,040 outstanding shares of Common Stock now!
There are 13,927,400 shares short as of last posting.
Clayton, Dubilier & Rice Fund VIII have 249,651 Preferred Shares outstanding, which is 196,109,194 shares of common stock on an as-converted basis. These can be converted within 60 days from October 20, 2009.
Total outstanding shares could be 286,665,234 after conversion. Which is a "little" more than the 20 million authorized shares they had prior to the deal.
Good news is they have cash now and are no longer dealing with bankruptcy.
It would also appear that the hedge funds are done dumping the 70 million shares. So we "should" be heading back up from here!
