Kodak will issue 30 million shares for convertible-bond holders following last week's 940% rally (KODK)
Thomson Reuters
- 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. Читать дальше...