TARP eliminated as part of recapitalization.
Concurrently with the Private Placement, the 51,500 shares TARP Preferred held by the UST and all accrued and unpaid dividends were exchanged for 1,085,554 shares of common stock and the warrant was amended to purchase 22,072 common shares at an exercise price of $16.00 per share.
"Someone said it takes 30 years to be an instant success" - Gabriel Barbier-Mueller, CEO of Harwood International