OK, well if we must look for some good news.....they did manage to replace the previous convertible with the new one and not having to repay till 2029 gives them some breathing room. Not being able to replace the old convertible would have caused a bankruptcy so at least funding is secure for the future.
Also if they manage to start turning the backlog into profitable revenue, the share price will respond and there is a fair chance for the convertible holders to convert their loan to common shares.
There is also the chance of a buyout....far below what the previous buyout would have been, but I would hope the company would try and fend this off....depending on the actual takeover price.
Avid can still have a solid future, but the share price is going to be lower for longer...sadly!
How forthcoming will Nick be at the upcoming CC? Will we get the real story of how this was so screwed up and who is to blame??? We may find out via upcoming management changes....or will they just be swept under the proverbial carpet??
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