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Strategies & Market Trends : Floorless Preferred Stock/Debenture -- Ignore unavailable to you. Want to Upgrade?


To: DoubleOddBuck who wrote (508)6/26/1999 9:33:00 PM
From: Zeev Hed  Read Replies (1) | Respond to of 1438
 
DoubleOdd, from what you have presented te conversion price is "Fixed" at $.05, thus it is not "floorless". Of course, there might be other terms in the rest of the document that state this is "initial conversion rate, or ceiling and if after a period the stock is lower than that price rights to convert at the then new price (lower) is granted, that would be a "floorless" instrument.

Zeev