Post Chapter 11 bankruptcy new equity listing
Just saw a company that recently exited Chapter 11 and their old equity got wiped out, and new equity was given to the creditors in a debt-to-equity kind of transaction. I was just wondering, given the new listing of the new shares (shares given to the creditors), how that works? I mean the liquidity of that equity, the float and so on given that the listing is the shares owned by the creditors. Also, anyone knows the typically holding period of a distressed fund for these kind of situation where the debt is converted to equity?
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