The existing common shares WILL be cancelled, and anyone holding MLNT shares will lose 100% of their investment.
From the latest 8-K:
"The transactions specified in the Restructuring Support Agreement, as previously disclosed on December 27, 2019, between the Debtors and the supporting lenders in connection with the Chapter 11 cases contemplate that existing equity interests in the Company would be cancelled and that the holders thereof will neither receive nor retain any property on account thereof."
Nothing for current common shares whatsoever. The stock will go to $0.
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