mnextmillion - in a forced conversion scenario, which is at $2.00, which is an exchange of exactly 12.5 commons for each preferred a, how do you suppose yellow will fund the shortfall to guarantee the $25 redemption price as per prospectus? sure, we may not get a $25/share cash payout, but we sure as heck expect them to fund the gap between the current 6 cent common and the $2.00 at which they would like to issue 125 million new shares. of course, yellow can elect to pay the accrued dividend, which is $1.06 for 4 quarters, in cash and offer warrants or a new preferred series, but they better make us whole! LOL
you can't play abracadabra in a non-recap scenario.