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hydro

By: teecee in IDCC | Recommend this post (0)
Wed, 08 Feb 17 10:18 PM | 437 view(s)
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Msg. 48065 of 48237
(This msg. is a reply to 48064 by hydro_gen)

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only problem is the guys who are short the hedge....are not the same guys who are long the convert....maybe that's one of the reasons the convertibles price is so steamy at 10+ points [139+ price vs 129 parity] above parity as of this mornings trade in the converts




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The above is a reply to the following message:
Re: observation
By: hydro_gen
in IDCC
Wed, 08 Feb 17 8:07 PM
Msg. 48064 of 48237

I beg to differ. IF IDCC trades above $94.08 for 20 (17 since we closed above 94.08 3 times already) out of the next 30 trading days (this quarter), based on below, conversion can occur.

Article 10
.....Holders shall have the right to convert any portion of the principal amount of any Notes that is an integral multiple of $1,000 only under the following circumstances:
(1) Conversion Based on Common Stock Price. On any date during any calendar quarter (and only during such calendar quarter) beginning after March 31, 2015, if the Closing Sale Price for the Common Stock was more than 130% of the applicable Conversion Price on each applicable Trading Day for at least 20 Trading Days (whether or not consecutive) in the period of the 30 consecutive Trading Days ending on the last Trading Day of the immediately preceding previous calendar quarter;
~$72.37 conversion price per share x 130% = $94.08

https://www.sec.gov/Archives/edgar/data/1405495/000119312515087314/d888367d8k.htm


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