Down to my last few post so I will make this brief. I watch this board and I have seen no one make mention of the preferred class that has not been issued yet. I refer to the class created by the exchange; this is to be done at the end and is considered purely administrative. This will add an additional 4.3 billion dollars I believe to the preferred class.
Now if JPM were to do as it is supposed to do, that is absorb the DIMEQ and the n renegotiate the warrant then that problem goes away. Next is that pesky conversion because of the judge in her finite wisdom says it already happened. That is a 4.3 billion dollar deal but only a portion of that is going to be converted as a portion of it is already common stock.
And my final point; Rosenturd has the judge convinced no further vote will be needed, the EC has informed the judge it looks like a deal will be reached. The judge wants this all over and done with and the EC has stated all appeals will be dropped and all the depositions have been dropped. The appeal will be dropped with prejudice. That means as things stand no new vote and everything will go away by the 29th .
MW the EC chair, will not allow the commons to be slighted, does that mean the preferred classes will see full face value? Who the heck knows? What it does mean is for now the votes are in Rosenturd is not worried and the judge is looking to get out from under this mess without a judicial review.
The judge and Rosenturd have run right over us on several occasions and it could still happen, just pray S&G have the goods to make a meaningful settlement.
I love Lindy
AI
