Originally Posted by
VacancyBid
I think they're getting all of it. That's the deal. Current stock goes away - new stock goes to bondholders.
I tried to go back and understand it. Way to complex for me to understand. They are definitely getting 100% of a $350M equity offering but I’m not sure what that means in regards to control of the business. I couldn’t find an answer.
It would be nice if ALPA could break down the ownership of the company in “the plan” upon exiting bankruptcy in March.