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Strategies & Market Trends : Three Amigos Stock Thread
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To: Sergio H who wrote (27829)1/10/2002 6:17:28 PM
From: Ditchdigger  Read Replies (1) of 29382
 
I haven't really followed MTNT..But it is strange..Why the Chap 11? If terms for a restructuring appear to be close to agreed upon? Odd.I hate to say it, but it seems like they want to hide something under the carpet. I looks like current shareholders are going to get screwed in the restructuring
"Under the proposed restructuring plan, existing common shareholders will receive warrants with a nominal strike price to purchase 5 percent of the new common stock in the reorganized company. The warrants will be exercisable once the senior note holders have recovered 105 percent of the face amount of their investment"
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