Molecular Insight Pharmaceuticals, Inc. (fka MIPIQ)

[surf1944]

This company still has $190,00,000.00 in notes & was the main reason I dropped the MOD position back in the summer. Even if they do the recap, I am not sure why posters here would believe there could be a big run with the current stock.

The investment from Savitr Capital LLC ("Savitr"), a private investment company, would be in the form of common stock at $0.45 per share, representing 90% of MIPI's common stock. The investment is conditioned upon the replacement of MIPI's approximately $195,000,000 of existing bonds, including all accrued "pay in kind" ("PIK") interest, by $90,000,000 principal amount of secured notes. The newly issued notes would mature in six years and bear interest at 6% per annum, payable in the form of PIK notes during the first 24 months; either PIK notes or cash, at the option of MIPI, during the next 24 months and cash for the last 24 months, with one-half of the outstanding principal to be repayable on the fifth anniversary and the balance on the sixth anniversary of the note issuance date. In addition to the notes, the holders of MIPI's existing bonds would receive 10% of MIPI's common stock.

http://www.secform4.com/insider-trading/1340752.htm

http://www.form4oracle.com/company/molecular-insight-pharmaceuticals-inc-mipiq.pk/company-transactions?id=11617