For years LGCY operated as a Master Limited Partnership.
Instead of shares, Legacy traded in “trust units.”
Like a royalty trust, LGCY was obligated to pay most of their profits to unit holders, leaving them with little to no cash reserves, after the $WTIC crash in late 2014.
LGCY has struggled to restructure in the last couple of years and is still carrying a lot of debt with notes coming due.
They seem to be struggling to find financing options to service the debt and notes.
Wish I could be more help.
GLTU, IMO and FWIW.
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