NHC 1.14% $5.22 new hope corporation limited

Ann: Convertible Note Offering, page-6

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  1. 186 Posts.
    lightbulb Created with Sketch. 19
    Confusing indeed.
    I can't understand why would one have a put option (right to sell at specified price) and also need to borrow shares to short them (hedge).
    I thought one of these options should suffice. Or have I misunderstood?
 
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