Chat room 7 free - Project thunder shareholder liquidating trust
And yet clearly that was a just relatively small deleveraging.
Of RHs remaining debt, the majority ($650 million) is in the form of convertible debt with strike prices of $116 and $118.
Right now some shorts appear to be taking the view that “if RH was a good short at $30, then it must be an even better short at $90”.
But in fact, the share count has been reduced so aggressively (via share buy backs) that the market cap of RH is only up by 30-40% since April.
And now suddenly these conversion prices are quite squarely within range.