I am also a TDA apex member and they stated they would handle the exchange. However, the must wait on notification of the exchange. They said if they do not hear something next week, then there will probably be an extension to the Nov. 7th deadline. I am working with the reorganization dept. 888-723-8504 option 1.
MC, I would have to agree, Errol as an ex-sec lawyer, He should know better how to handle this. Why the T/A had no instructions for the tender offer is beyond belief especially with the short deadline. Not sure how it all works, but it seemed to me 141 did not notify the proper parties to handle the tender offer.
I would also have say on this matter, I was not impressed with Big Apple... no help at all, and they were very passive and not willing to get clarification from the company (141), Basically telling me all they can say was keep monitoring the website for any updates and send a letter to the T/A if your Certs won't be there on time... that they may or may not honor the deadline... that left me with warm and fuzzy feeling.
Anyway, I converted half of what I had. Reason being and this is my decision, I want to have shares that are not locked up if they have great news coming. Even if they do R/S and the price stays post R/S or higher we will be fine… if the price falls back to Pre R/S then it won’t matter preferred or common shares it will be very bad.
So thats it, sit and wait to see how all this plays out.
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