Thanks John, getting myself confused between Conversion and Redemption rights.
Do the converted shares received by Susquehanna in July, assuming the share price remains depressed, not align Susquehanna with other shareholders? Would they not want to see an appreciation in the share price and liquidity after conversion in order to exit their position?
Extending that to the current situation, what value is there for Susquehanna between holding $20M worth of shares at sat $0.023 and $20M worth of shares at say $0.04? I assume they like money, and holding 10% of shares in $100 is the same as holding 20% of shares in $50.
If the share price is below the floor price then they will be overpaying for shares converted, and if it rises above the current reference price they would be converting at a discount. Does that not align them with other shareholders?
IMU Price at posting:
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