not according to the latest anncmnt htran (which admittedly I am reading several hours later).
If it goes into administration now, the company will have negative equity.
This is a very precarious situation. That person who posted the other day thinking they will get $100 of notes value back, well his goose is cooked now.
Now people may understand when I say noteholders will be called to the table to swap debt for equity on not very favourable terms.
I reckon ordinary shareholders now may end up owning less than 10% of the overall company and get massively diluted.
BNB Price at posting:
32.5¢ Sentiment: None Disclosure: Held
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