The interest rate means nothing when the notes can convert at 80% of 3 lowest VWAPs out of 21 days!
How many holders would own these on margin and have agreements that allow the shares to be loaned out for shorting?
If I was LJC, I'd try to find a way to sell first and convert at 80% of my 3 lowest VWAP days. Seems like straight-forward arbitrage?
Maybe, as someone pointed out, is better than nothing for shareholders. Just don't see how it can be better than selling at current price though. Just my view.
MIK Price at posting:
4.0¢ Sentiment: Sell Disclosure: Not Held
