>>60532048
>As a matter of fact, the holders of HTZGQ got $1.46 plus 1/20 share of HTZ for every share of HTZGQ for the best BK result of the century.
Now explain to the class what happens to shorts when previous shareholders receive cash + new equity (ratio of new equity doesn’t matter) when there are 10x-50x more shares owned than were actually issued by the company.
By your own admission, previous shareholders received new equity, which by definition means shorts are on the hook for that, and the naked shorts are extra fucked if this is all documented and done on t-zero.
The company who purchases the shell, or the bigwig investors only need to distribute enough shares + cash to account for the shares officially issued by the company… when there are 50x more shares in circulation than we’re ever issued, naked short sellers are in deep shit.