Where: I had time only to look at GZTC, a sory story. In any event, the way to find out if a company has a floorless is to look over their SEC filing, particularly S-3 registration where they register new shares. The body of the registration usually shows conditions of conversion. Here is what I found in GZTC recent s-3:
(refe. conversion of some preferred stock, I believe it is a credit line from their parent Genzyme, " at the lower of:
(i) $14.55 and (ii) the average closing price of the Company's Common Stock
as quoted by the Nasdaq National Market for any five trading days, selected
by the holder, during the twenty trading days immediately preceding the date
of conversion. As a result, the number of shares of Common Stock issuable
upon conversion of the preferred stock may increase above, but will not
decrease below, 1,374,569 shares. Lastly, an indeterminate amount of shares
are registered for issuance and sale by the Company on a continuous basis at
a maximum aggregate offering price of $12,000,000, of which, to date, 603,300
shares have been sold at an aggregate purchase price of $6,515,640."
Zeev
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