MIND has sold one unprofitable division in order to focus entirely on another and is now profitable. Management apparently wants to get rid of the preferred shares, which creates several scenarios.
Are there large prefs holders? Are you shorting the common as a hedge? Assume the common may slump, once prefs sell their shares.
Mitsubishi has 10.3%. No, i don‘t short.
Is the conversion offer only for pref holders as of a certain date?
Yes, April 26 is the record date.
I actively looked for companies that have sold segments.
Are there large prefs holders? Are you shorting the common as a hedge? Assume the common may slump, once prefs sell their shares.
Mitsubishi has 10.3%. No, i don‘t short.
Is the conversion offer only for pref holders as of a certain date?
Yes, April 26 is the record date.
I actively looked for companies that have sold segments.