That math is pretty much right, though the notes are convertible into stock. NHC would pay par+accrued at the end unless the holder exercises.
As it is, it's pretty easy to value and quotes seem to indicate that's the case. Around $332 per $100 face value atm. Given the delta of the embedded option, this is economically similar to an on market stock buyback.
That math is pretty much right, though the notes are convertible...
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$4.64 |
Change
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Mkt cap ! $3.947B | |||
| Open | High | Low | Value | Volume |
| $4.67 | $4.68 | $4.63 | $1.563M | 336.2K |
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| No. | Vol. | Price($) |
|---|---|---|
| 19 | 12336 | $4.63 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $4.64 | 12972 | 22 |
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