The company would also restructure the remaining of its convertible notes at 47.5¢ in the dollar. This means instead of the Zip owing its convertible note holders $330 million, it would now owe them $137.8 million.
25m raise at 47c is a bad news. Maybe not too bad since I was thinking 45c and 80m. However the above is a great news to me.
Ann: Trading Halt, page-35
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