Yeah no surprise. The only thing going on is the orderly transfer of wealth From shareholders to Tenor, bonds and management. I will be amazed if the shareholders keep more than 10-15 percent of company after tenor gets done with the next loan terms. I will not be surprised if management shares become undilutable as well. It will be ugly. As ownership transfers away from shareholders the amount required to settle will be reduced. $250-300 million will clean this mess up nicely for everyone but real shareholders.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.