Rande, all I can say about BDE, is that these are floorless, and that is always a danger. I doubt INTC will engage in "predatory shorting", but they have some smart CFO and they certainly could take the position of hedging their situation fully, at least once. The rest of the lenders, I really do not know. You should expect pressure on the price until full conversion has occurred.
One thing you can do is to monitor weekly the share count at the transfer agent, that should give you an idea if the debt is actually converted to shares or just used as a collateral for death spiral like shorting. In the first case, you will see an increase in the share count (shares converted already), in the other case, price will decline and sharply, but share ount will barely nudge, then you should conclude these floorless are not friendly.
Zeev |
