Stock to watch
- Thread starter MetalMover
- Start date
RJcasualty
Advanced
- Jun 29, 2004
- 187
- 67
RJcasualty said:
Parker could always pull a Stephen Wolfe and use all that idle cash to do a stock buyback. One could argue the point that that particular move by Wolfe over a decade ago was THE major factor in US Airways plummet. That stunt is likely already in the economics textbooks in the chapter on "What NOT to do to your company."
RJcasualty
Advanced
- Jun 29, 2004
- 187
- 67
Preferred to Common formula: "...41,963,700 shares of Convertible Preferred Stock will be converted into shares of Common Stock as of the close of business on February 7, 2014. By operation of the mandatory conversion mechanism contained in the Certificate of Designations, each holder will have approximately 39.73 percent of its shares of Convertible Preferred Stock mandatorily converted.
The Conversion Price used for determining the number of shares of Common Stock issuable upon conversion of the Convertible Preferred Stock is $32.7136. For each $1,000 in Stated Value of Convertible Preferred Stock mandatorily converted, Holders will receive 30.56 shares of Common Stock. Stated a different way, each share of Convertible Preferred Stock mandatorily converted will be converted into 0.7722 shares of Common Stock, subject to rounding.
The Depository Trust & Clearing Corporation
DTCC) will be processing the conversion on their systems on the morning of February 10, 2014.
The next Mandatory Conversion Date will occur on March 9, 2014. An additional 41,963,700 shares of Convertible Preferred will convert to Common Stock on that Mandatory Conversion Date. The conversion ratio will be determined based on the volume weighted average price of AAL for the five trading days prior to March 9, 2014.
The second Optional Conversion Period will commence on February 13, 2014..."
The Conversion Price used for determining the number of shares of Common Stock issuable upon conversion of the Convertible Preferred Stock is $32.7136. For each $1,000 in Stated Value of Convertible Preferred Stock mandatorily converted, Holders will receive 30.56 shares of Common Stock. Stated a different way, each share of Convertible Preferred Stock mandatorily converted will be converted into 0.7722 shares of Common Stock, subject to rounding.
The Depository Trust & Clearing Corporation
DTCC) will be processing the conversion on their systems on the morning of February 10, 2014. The next Mandatory Conversion Date will occur on March 9, 2014. An additional 41,963,700 shares of Convertible Preferred will convert to Common Stock on that Mandatory Conversion Date. The conversion ratio will be determined based on the volume weighted average price of AAL for the five trading days prior to March 9, 2014.
The second Optional Conversion Period will commence on February 13, 2014..."
RJcasualty
Advanced
- Jun 29, 2004
- 187
- 67
