Thank you for the reply and the link back to that previous post. That is helpful in understanding the various possible outcomes.
I know I am not articulating my question very well, mainly due to my lack of education in this arena, but I guess what I’m trying to ask is: Why wouldn’t the Gov simply do what’s necessary (whatever that is, idk) to halt trading and do a secondary offering for a discounted price from where Mr. Market would likely value the shares given whatever the plan is with SPS/warrants/NWS? For example, say the shares are worth $100 as mentioned in your previous post if the SPS/warrants/NWS are cancelled. If the Gov does a secondary offering for $70/share, would there not be plenty of capital lining up to buy them? You’re either in or your out. You, as an investor, either want the discounted shares or you don’t. If buying the discounted shares is their only option as opposed to trying to dictate what percentage of the companies they want in exchange for $X capital in some sort of negotiation, what investor would not jump on that?
Yes I know, you assign a 0% probability of the warrants being cancelled. And yes I know that “the Gov would have no incentive to create a high common share price” (paraphrasing you of course). We disagree on both of those points but that is not the question at hand. Let’s assume just for the sake of discussion that I am correct and that the SPS/warrants/NWS will be cancelled, and that the Gov will attempt to do the right thing (as hard as that is to fathom) and come up with a solution that appeases everyone. Would the above scenario not be possible? If so, why not? Please be objective!
I wholeheartedly believe that they will not just obliterate the common equity to meet their end goal of recap. There must be a better way.
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