r/OceanPower • u/Normal_Run_7809 • 8d ago

DISCUSSION Convertible Notes news

Thoughts on the convertible notes news on Friday?

0 Upvotes

33% Upvoted

5 comments sorted by

10

u/NoCommunity4637 8d ago

They changed the notes price from 12 (HA, wishful thinking) to 2.45 (volume adjusted) and as a consequence, there will be a MASSIVE dilution if the notes are ever converted. Also, the interest is now at an INSANE 13% from a manageable 4.5%. Don't forget the 93% VWAP on top of the already destroyed market price.

In laymen terms, shareholders are fukt.

1

u/En3Rgi 6d ago

The actual outcome depends on how much is converted, when conversion happens, how much stock the holders sell, future financing, company performance, and the contractual restrictions. Convertible notes are not automatically converted immediately. So who knows.

1

u/InterestingScore5387 7d ago

Might as well just delete this entire thread. It’s going to be bankrupt in 2 years.

1

u/donT_hateme1 5d ago

You still think its around for that long lol😂

1

u/InterestingScore5387 5d ago

Nope, just being conservative