Oct. 3 at 10:44 PM
$TRNR
"The conversion price is
$0.9457 per share, a 20% premium to the June 9 stock price. Investors are most incentivized to convert their notes at sustained pricing levels well above even that. So, we believe the immediate risk of dilution is minimal and is expected to occur once the TRNR shareholders have experienced significant stock upside from today."
"It is expected that the new investors would only convert their Notes to equity a) when the common shares underlying the Notes are registered with the SEC, which is likely a few months away; and b) when the stock is performing well, i.e. >
$1.00."
These are from fact pages. After the split, the conversion price is now
$9.457. Investors are motivated to convert their notes only if the stock price rises well above
$9.457, meaning
$9.457 is the minimum price at which notes can be converted.
