Yes been there done that a couple of times now; take a look at INT as one classic example. I think the discount was 15% so the note holder had a big incentive to convert to shares and then sell the shares no matter what the price of the shares were. It was a great example of the death spiral and very costly to shareholders.
I'm going to wait until I see the details of the note issue before deciding whether to make an investment in RFX.
Ann: Response to ASX Appendix 4C Query, page-63
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Last
11.0¢ |
Change
0.013(13.4%) |
Mkt cap ! $29.07M | |||
| Open | High | Low | Value | Volume |
| 10.0¢ | 11.0¢ | 10.0¢ | $28.41K | 273.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 25000 | 10.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 11.5¢ | 63439 | 1 |
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| Last trade - 16.10pm 29/07/2024 (20 minute delay) ? |
| RFX (ASX) Chart |