Replies to post #375 on Internap Corp fka INAPQ

[Bert_From_Accounting]

Here is the response I got from PrimeClerk:

The warrant conversion ratio was updated pursuant to the below excerpt within the plan. You may no longer withdraw your submission or increase your participation amount, as the opt in deadline expired on 4/17. If a participating holder owns fewer than 75,000 shares, they will receive a cash distribution to the extent such distribution exceeds $50.00.

So, if you are not opted-in, you either sell or hold the shares in speculation that the plan is rejected. If you are opted in, as I am, we are locked with our shares. If the shares you have opted in is under 75k, as I do, we are at the mercy of the companies valuation of those shares. Based on their notice sent out, that value is about .008. So, this sucks. Because , if I treated this as a trade, I would have doubled up. Instead, I opted in and I am losing over 50%.