Yea, that still doesn't make much sense to me. The debentures and the Preferred stock are two completely separate financings. What mCloud does with the funding from the Preferred after it is received shouldn't make any difference. I'm obviously missing something. Sorry.
So if I understand correctly, probably some of the old debt investors might want to stick around and the new instrument doesn't allow a roll over for the old debenture holders. So what's the delay then? The old holders figuring out how to roll? Or the SEC allowing them to roll?
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