Does this mean that even if the recap is approved that YPG would be effectively legally barred from exchanging the Pref A's into the New Securities as envisioned by them subject to the sought corporate reorganization due to the fact that there would be less than 30 days at this point until December 31st when Pref A holders could exercise their retraction rights? Thoughts?
If the recap is approved, the Pref A shares will be replaced by new common shares and new warrants. This will probably happen before Dec 31 (the first day when Pref A could be exchanged for common shares). Even if it's after Dec 31, YLO won't accept any 30-day notices until the judge approves the plan and lifts the stay, and there will be less than 30 days between that date and the effective date of the recap so you will still be out of luck.