Apr. 17 at 7:53 PM
$CAPS @949Jaguar123 Not exactly..
$0.57 is more like the reference/conversion level.
They’re getting shares at a discount to market, then selling into higher prices when volume comes in..
But, the 8-K shows the
$0.57 conversion only applies to
$500K of the note.. not the whole thing.
That’s under 1M shares max at that level.. if they converted and sold yesterday those limited shares for @ 0.57 conversion (only 877,000 shares that is) are already absorbed. considering we had 101M volume yesterday thats about 0.87% of the volume.