If you do the maths you can see the deal benefits the newcomers much more than the older holders. The equity is being drowned out with this recap plan and it puts a bias for shareholder to take up the deal or suffer worse equity damage. The terms of the deal is really good for the under writers, not surprised at the people rushing to be under writers.
Pity the people that bought in the last pump and dump, and the ones bought before that can be summed up as ef ed. Excuse my language. I wonder why no news on BD's future, for a recap plan of this scale you would expect head(s) to roll.
BLK Price at posting:
10.5¢ Sentiment: None Disclosure: Not Held
