rocco2 Here is where they talk about the shares in excess of the cap. Can you explain this to me. It sounds like they have some effect on our distributions.
1.148 Market-Based Old Equity Allocation means, with respect to any
Mandatory Conversion Date, the aggregate number of shares of New Common
Stock that New AAG shall ratably distribute (or reserve for distribution) to the
holders of Allowed AMR Equity Interests on such Mandatory Conversion Date,
or as soon thereafter as reasonably practicable, in an aggregate amount equal to (i)
the product of (a) 25% of the difference between the New Common Stock
Allocation and the Initial Old Equity Allocation, multiplied by (b) the amount (if
any) by which the VWAP for such Mandatory Conversion Date exceeds the
Value Hurdle Price, all as multiplied by (c) the reciprocal of such VWAP, less (ii)
the Shares in Excess of Cap for such Mandatory Conversion Date; provided,
however, that in no event shall the number of shares distributed and/or reserved as
described in this Section 1.148 with respect to any Mandatory Conversion Date
(x) be less than zero or (y) be equal to or greater than the number of shares that
result in the aggregate number of shares of New Common Stock that are issuable
pursuant to the Plan, including those that are or may become issuable upon
conversion of shares of New Mandatorily Convertible Preferred Stock issued
under the Plan, exceeding the Maximum Plan Shares.
1.204 Shares in Excess of Cap means, with respect to any Mandatory
Conversion Date, a number of shares of New Common Stock equal to the sum of
the Mandatory Shares in Excess of Cap and the Optional Shares in Excess of Cap.
“Conversion Price” means, with respect to any Conversion Date, an amount equal to
96.5% of the VWAP calculated with respect to such Conversion Date; provided, however, that
such amount shall not be less than the Conversion Price Floor nor greater than the Conversion
Price Cap.
“Conversion Price Cap” means the greater of (i) $19.00 and (ii) the Initial VWAP less the
Conversion Price Floor plus the Initial VWAP, subject to adjustment as set forth in Section 6.1.3
