Of course you are correct. The point is they coul

Of course you are correct. The point is they could have made their money without decimating the stock. Their only interest is not the success of the company but the availability of enough shares to convert. Remember, the loan is to be paid in full in a year time while earning 12% interest, quarterly dividends (10 or 12%) and of course a 10% initial discount (i.e. the net loan to AMBS is 90% of face value). They may be legal but barely.

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It is their business model, there is no deception on their part.

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