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


To: Dr. John M. de Castro who wrote (365)3/24/1999 11:18:00 AM
From: RockyBalboa  Read Replies (1) | Respond to of 1438
 
Usually, if the conversion mode is subject to changes, this is stated in the initial 8-k.
Upon the term "Initial" you will find a certain description when that expires and what happens then:

Example .... "after 180 days from the closing date .... the fixed conversion price will be adjusted to (90%/80%/75%...of) the average of the lowest/last 5/10/20 trades/bids... prior to conversion notice."

C.