… And nowhere does it say anything about change in share structure or outstanding shares. NEO Compensation is also in shares/cash. This is getting extremely exciting :-)
It wont be canceled.. It will suffer massive sickening dilution.
They have $6 BILLION in debt that needs to be addressed in bankruptcy. They dont have close to enough cash. Add in the $1 BILLION in DIP needed to keep the lights on in bankruptcy.
How will they pay the debt?
By issuing new/more equity to raise capital. This will slaughter current shareholders with massive dilution.
This is why Blackrock, and many others dumped this stock. Blackrock was the largest shareholder.