Chemtura Corp (fka CHMT)

[Fernace]

thank you mad.

what would prevent the comapny from doing a rights offering for the exact # of shares they currently have outstanding (243M shrs), except dilute current shares by 50% thereby reissuing ~121.5M shrs to current shareholders and issuing ~121.5 shrs to bondholders for equitization of the outstanding debt of 1.35B? This would price that conversion around ~$11/shr ($11 x 121.5M shrs = $1.336B).

Current equity would have thier shares diluted at 50% thereby only having 121.5M shrs instead of the 243M shrs. there would be 243M shrs valued at $11 pps for a total equity value of $2.67B.

Forgive me if I am missing something as this is only my opinion. If I am incorrect in my reasoning, kindly advise.

either way this is the beginning peeps. don't loose hope, and more importantly do not think that just because they are willing to give us a pittance DOES NOT mean that it will be accepted; we know it won't.

Many thanks for your contribuitons!