It's secured debt. Their convert is unsecured. It likely ranks behind Opus but ahead of everything else. That allows them to jump ahead of all the trade creditor, accounts payable, employee severance, and other unsecured liabilities. It also gives them more control once Opus is paid out.
No doubt they are trying to salvage their existing debt.
Good money after bad IMHO but fits their previous MO of pumping money into basket cases and delaying the reckoning as long as possible.
News 
Market Data 
Discover 
