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> 90 to 95 cents on the dollar The price at the time seemed to be thought of as too high. Elon tried to back out. Were the banks valuing the deal differently
by duxup 2y ago
> 90 to 95 cents on the dollar
The price at the time seemed to be thought of as too high. Elon tried to back out.
Were the banks valuing the deal differently than most?
- Arnt 2y agoThey've waited for an occasion when a price as high as this night be possible. Meaning: Their valuation was generally lower.
- rsynnott 2y agoNote the term “want to”. Obviously they want to. The question is, does anyone want to buy it at that. This is also senior debt (they’re holding onto the junior debt); if when a company is bankrupted there’s a billion in assets, 900 million in senior debt, and 10 billion in junior debt, then the holders of the senior debt are paid off in full, and the holders of the junior debt get one cent on the dollar. Well, that’s the theory; in practice what happens is that everyone goes to court, forever.