Thread regarding CGG Veritas layoffs

CGG Financial Restructuring - How does this work?

This is directly from the Financial Restructuring FAQ's from the CGG website:

– the exercise of such a PSR will also result in an existing CGG shareholder receiving – in addition to the Warrants #1 – theoretically close to 3.25 Warrants #2 (i) entitling the shareholder in total to subscribe for almost 2.15 new CGG shares at a price of €4.02 per share, and (ii) whose theoretical valuation, for instance, will be €0.40 on the basis of an equilibrium price of €1.56 and a volatility of 50%. It should be noted, however, that this valuation will not necessarily correspond to what the actual market rate of the Warrant #2 will be, which will depend on supply and demand for that security;

Am I understanding this correctly? The shareholders can buy a new share for €4.02, which would have a theoretical valuation of €0.40 ! I'd rather go to Vegas 'cause at least I'd get a few free drinks as I burn my money.

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Post ID: @R9wFahh

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Only warrant I have heard of is an arrest warrant.

Post ID: @R9wFahh-mmy

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