but by converting at 20c your just amplifying problem 5x, and...

but by converting at 20c your just amplifying problem 5x, and unnecesarily bringing it forward 3years.

and why would a corner stone investor want to play 2nd fiddle to beppa? give beppa the best terms and gain so little themselves?

but if they get in first, they contrl the company, they control how much debt to repay, if they want to strip the assets, buyback beppa, etc,

a smart cornerstone investor ould invest now, get what they want from the company/assets, then convert the beppa in 3years.

a corner stone investor can always buy 50% of bbi for say $600mil, then buy some beppas over the next 3years, and more than maintain there % holding, for a relatively inexpensive outlay, say $600mil upfront + $200mil beppas.