Vast improvement8 Sep 2023 07:22
This was from 3August:
announces that it will issue 15,712,013 common shares on 3 August 2023 pursuant to the share settlement option exercised by a Bondholder for settlement of $0.4 million of Conversion Payment amounts (and related accrued interest) due pursuant to previously converted 2027 Bonds. The number of Shares issued for settlement of these Conversion Payments is based on the lowest 5-day VWAP following election of the share settlement option for the Conversion Payments.
This is today:
announces the issuance of 9,995,428 common shares (the "Shares") pursuant to the share settlement option exercised by Bondholders for settlement of $0.5 million of Conversion Payment amounts (and related accrued interest) due pursuant to previously converted 2028 Bonds. The number of Shares issued for settlement of these Conversion Payments is based on the lowest 5-day VWAP following election of the share settlement option for the Conversion Payments.
So this time $0.5 million v $0.4 million equating to
9,995,428 v 15,712,013. So BH converts 25% more and gets 2/3 of the shares. What’s not to like?!!