Advanced Micro Devices Inc (AMD)

[bobs10]

They are forcing that debt off the books. All holders will elect to convert to stock @ $7.37/sh, instead of accepting the payback of principal, which has already been assumed in the previous Q's diluted share count.


Me...

It may sound crazy, but I seem to recall in at least one of AMD's conversions a significant number of convertible bond holders failed to convert. This seems especially strange given that these bonds have been sold, essentially outside of the market, and one would suppose to people that know what they're doing? Usually the bonds are sold in a private placement and we find out about it latter making it difficult if not impossible to get any.