The OCC Plan creates an Equity Trust. This sort of arrangement will really screw up the shorts. Why? In cases in which the equity does not survive, shorts can wait months or years for the price to decline to less than a penny to cover.
Not this case.
FMNTQ will be exchanged for trust units. The exchange offer itself is not a problem if the units would continue to trade. However, there is no way to cover once trading stops.
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