Updated conversion information:
The conversion price today climbed to 4.70 today from yesterday's 4.55.
The 4.70 price is good until one minute before noon ET tomorrow.
Here are the closing bids for the last ten days, and a forecast what will
happen if the closing bid remains at today's closing bid of 6 1/16 through the next week:
Date Bid
27-Aug 4.3125 Was only good to noon Monday.
30-Aug 4.3438 Was only good to noon Tuesday.
31-Aug 4.3125 Became stale today, and drops out by noon tomorrow.
1-Sep 4.2500
2-Sep 4.5625
3-Sep 4.6875 Conversion
7-Sep 4.8750 Price Shares Lost each day
8-Sep 5.6250 4.4240 1,771,500 0
9-Sep 5.3750 4.4240 1,771,500 0
10-Sep 5.2500 4.4556 1,759,000 12,500
13-Sep 5.7500 4.5503 1,722,400 36,600
14-Sep 6.0625 4.7028 1,666,600 55,800
Forecast if bid remains unchanged from current bid of 6.0625 :
Conversion
Date Bid Price Shares Lost each day
15-Sep 6.0625 4.8817 1,605,500 61,100
16-Sep 6.0625 5.1131 1,532,800 72,700
17-Sep 6.0625 5.3130 1,475,100 57,700
20-Sep 6.0625 5.5445 1,413,600 61,500
21-Sep 6.0625 5.7444 1,364,400 49,200
22-Sep 6.0625 5.8180 1,347,100 17,300
23-Sep 6.0625 5.9338 1,320,800 26,300
24-Sep 6.0625 6.0705
This is above the fixed conversion price, and the remaining 21,100
shares earned through the variable conversion are lost.
Total lost 471,800
Paul |
