Business

Kodak will issue 30 million shares for convertible-bond holders following last week's 940% rally

1 month ago   |   By Business Insider

Kodak said it would issue 30 million shares to holders of its convertible bonds, according to an 8-K filed with the SEC on Monday.
The move is a signal that its debtholders are ready to cash in on last week's 940% stock rally, which was spurred by the company receiving a $765 million from the US government to produce generic drug ingredients.
Kodak's outstanding shares will increase 60% to 75.5 million after the debt is converted into equity, which is expected to happen Monday.
Kodak shares slumped as much as 22% on Monday after the Rochester, New York-based company disclosed the...
Read more ...

 

Kodak will issue 30 million shares for convertible-bond holders following last week's 940% rally

Kodak will issue 30 million shares for convertible-bond holders following last week's 940% rally

1 month ago   |   By Business Insider

Kodak said it would issue 30 million shares to holders of its convertible bonds, according to an 8-K filed with the SEC on Monday.
The move is a signal that its debtholders are ready to cash in on last week's 940% stock rally, which was spurred by the company receiving a $765 million from the US government to produce generic drug ingredients.
Kodak's outstanding shares will increase 60% to 75.5 million after the debt is converted into equity, which is expected to happen Monday.
Kodak shares slumped as much as 22% on Monday after the Rochester, New York-based company disclosed the...
Read more ...

 




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