Long-time readers are probably aware that I rarely write about special situations, and instead focus on uncovering the cheapest opportunities around (businesses selling for free type cheap).
Not necessarily. Circuit breakers could restrict short selling for a couple days. And depending on the volatility and price of the stock, it may not make sense to short immediately.
yes. given the history of the company and its acquisitions, I think the 'and/or purchase shares of the Company’s common stock concurrently with or shortly after the pricing of the notes' is a bit of a dream, unless something truly miraculous happens to turnaround the company. There are larger, more competent players in the field like TOST who are also vertically integrated and I don't imagine there's any value for an acquirer in acquiring this company and attempting to integrate the spaghetti, vs just eating their market share via competing with a better product.
Wouldn't the people who get the new converts start shorting the stock, so net pressure is a wash?
Not necessarily. Circuit breakers could restrict short selling for a couple days. And depending on the volatility and price of the stock, it may not make sense to short immediately.
yes. given the history of the company and its acquisitions, I think the 'and/or purchase shares of the Company’s common stock concurrently with or shortly after the pricing of the notes' is a bit of a dream, unless something truly miraculous happens to turnaround the company. There are larger, more competent players in the field like TOST who are also vertically integrated and I don't imagine there's any value for an acquirer in acquiring this company and attempting to integrate the spaghetti, vs just eating their market share via competing with a better product.