Replies to post #3694 on Tronox Inc. (TROX)

[Madclown]

One correction, I said 180 days for the exclusivity limit and meant 18 months.

[persistentone]

madclown, I already understood the equity capital raising is for bondholders who are accredited investors.

My question (just a confirmation) was that the $105M raised buys 70% of the new common shares.

I also didn't see the backstop investors named (I'm sure it is there and I haven't read it yet), but is there any chance they will let bondholders act as a backstop for more than their prorata share in bonds?

[PostCog]

Mad:


“…With that goal in mind, Tronox remains committed to including the Equity Committee in the plan of reorganization, if a deal with the Equity Committee is feasible, and, in that regard, Tronox has met with the Equity Committee in an effort to reach full consensus on that plan...”

I read this previously, but upon review the chronology of this passage stuck out:

“Tronox has met with the Equity Committee in an effort to reach full consensus”

and

“Tronox remains committed to including the Equity Committee in the plan of reorganization, if a deal with the Equity Committee is feasible,”

That meeting must not have produced a feasible deal.