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


To: Anaxagoras who wrote (364)3/24/1999 10:05:00 AM
From: Dr. John M. de Castro  Read Replies (1) | Respond to of 1438
 
Here's the phrase that made me suspect that this is a floorless convertible:

< "Each share is convertible into Common Stock of the Company at an INITIAL conversion rate of 100 shares of Common Stock per share of Series A Preferred Stock. ">

I capitalized the word initial. Every floorless has such a stipulation. What is not said is how the later conversion prices are determined.

John de C