On 30th June we have 12o mill option conversion ..so called...

On 30th June we have 12o mill option conversion ..so called underwritten with no cancellation conditions.
Withshare at 9.4c and underwriter getting 5%fee...so they have to cough up net 9.5.

KRCOA now in 2+ I would not to be a holder. As conversion time nears I doubt these will be in the money.
Not sure the how deep pockets the underwriters have.