seabassbanker

Haven't We Heard this Market Song Before?

5-7... you are crazy

look at how the options are pricing this stock
you can get synthetically long this stock for .60c by selling june 2.5 put (2.0) and buying june 2.5 (.10) call
that price is much closer to tma's true value post dilution
unless tma falls below .60 you profit

the only reason dilution hasn't been priced into TMA yet seems to be that either bondholders are buying some shares as insurance for a yes vote or massive short-covering, which I doubt.

This is a terrible deal

To anyone considering getting long TMA

Im not going to say dont do it, just that I wouldn't do it nor do I suggest it...

but if you are dead set on it do it via the options as I suggested...
why pay 1.28 for something when you can do it via options for .60

Haven't We Heard this Market Song Before?

Hardnosed

dont you think smart money(as matlin clearly shows he is) wouldn't enter into this deal unless they could guarantee a yes vote.

As of the 11th they will control a 40% voting block... If they haven't already secured a yes from a large couple of holders It would only cost the bondholders bet. 30-60 mil in open market purchases to gain that last block and ensure a yes vote

I believe this vote is a mere formality and it doesn't matter if you vote no. They already have the vote locked up.

Haven't We Heard this Market Song Before?

This deal is death spiral financing at its finest
A purchase of the company under the guise of a 12% loan
and yes new sec filings shows rainwater got in on this deal too
I believe the only people who are gonna make out are those holding the new bonds and warrants