The shelf registeration for the sep 30 financing o
Post# of 30067
Posted On: 11/09/2015 9:59:26 AM
Re: All Aboard #21237
The shelf registeration for the sep 30 financing of series H and 12% convertible notes was for about 9 mil shares. About 2.8 mil of those are in warrants convertible at $2. Taking the warrants aside, since it will be a while before the price gets high enough to convert, they can not convert more than 6.2 mil shares unless they do another shelf registration and have it approved by SEC. They still have to issue shares to make payments on the loan (principal + interest) until the loan is paid in full by sep 2016. The volume since Oct 15 is about 6.6 mil. In fact it is about 2.7 mil since 11/2, the day SEC issued a notice of effectiveness. So I think they are close to exhausting the convertible shares. Oh BTW, going forward AMBS is forbidden to sale shares in the open market until the loan is paid in full.
I'm curious as to why you think this?
Quote:
Volume should dry up next week.
I'm curious as to why you think this?
Quote:
Volume should dry up next week.
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