Buying SGH, page-402

Thank you, you've proven my point.

You can't honestly think a lender is going to exchange their high ranking debt for 400m (for example) of convertible notes for a company that has normalised cashflow of 7m p.a. That's also forgetting the declining revenues.

At 6% minimum expected coupon, razor thin margins.

You're an amateur, that's fine, we all need to start somewhere and I respect that. You should however try to learn from those that work in the industry and have called this right thus far.