Replies to post #296 on The Valspar Corp. (fka VALPQ)

[trader59]

Yeah, this doesn't bode well....

If holders of equity interests vote as a class in support of the Restructuring, they will each receive their pro rata share of (i) up to 0.01% of the New Equity and (ii) 7-year warrants to purchase up to 7% of such New Equity (subject to dilution), with a strike price set at a price per share equal to the value at which the Senior Noteholders would receive a 100% recovery on their claims including accrued interest up to the filing, as applicable.

That's very little equity, 1/100th of 1%, better than nothing, I guess, but not nearly any sort of "recovery."