Floorless Preferred Stock/Debenture Message Board

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Strategies & Market Trends : Floorless Preferred Stock/Debenture

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To: Roger A. Babb who wrote (116)	10/10/1998 4:16:00 AM
From: Dave K	Read Replies (1) of 1438

Death Spiral Part 2: Equity Credit Financing !. I was just getting a handle on converts. I need to do more work on these but a quick check didn't turn up anything worthwhile except the scenario you described... Message 5902077 This is definitely not an equity line of credit. I'm missing some basic key points in your scenario: I don't follow why these companies go through a third party (the fund) to sell shares at a discount. Why not go directly to market and raise 100% ? Is there a non-disclosure advantage ? What section are these deals filed under ? Maybe you can save me checking all the REFR filings. [I followed REFR a few years back. As I recall, the price could never sustain an up move on good news for some reason.} Thanks Dave

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