n Machinery Announces Management Chang
Titan Machinery (NASDAQ: TITN) $150 million convertible note (Feb. 2019) traded at an all time low on March 13,2015 @ $66.50 yielding 14.88% as the company's fundamentals have deteriorated in recent years.
- In March the company announced that they expected to be in non compliance of the covenants in the $150 million convertible note with Wells Fargo. The company said the terms of the note require the Company to earn a minimum net income for the FY2015 period that ended as of January 31,2015.
Titan's Bonds have since jumped 21% and closed yesterday above $80.
ATTACHED Is the Original Convertible Note with All 6 Amendments Added in Different Colored Fonts. (282 of Pages of NOTES/DELETIONS/Replacements) Good Luck Figuring it out)
SEC NEEDS TO MAKE BOND DISCLOSURE INVESTOR FRIENDLY.
Investors shouldn't need a Philadelphia Lawyer to Figure Out the Terms of this Note.