RE: Blimey10 Mar 2021 21:53
Safetyman - "if that was a sell by Atlas, I have got to take me hat off to MM. I think that would mean we got a loan and paid some of it back for less than we borrowed it."
Oh my dear god. You really need to learn what a convertible Loan note is. Can you explain how you paid some of it back for less than you borrowed it. Too many glib posts and no understanding.
IF it was Atlas (and we don't know) its is Atlas that have taken the loss. WRES have had the money and the risk is then with Atlas, If they sell above the strike rate then they get a return, sell below (which this was) then they take a loss. The last strike rate was 0.103.
Now, what that tells me is that they are willing to take a 20% loss to reclaim 80% of what they advanced, possibly fearful of getting a zero return if this goes bankrupt. They don't want to hold.
I hope that's a reasonable explanation