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What is the rationale of converting the ICULS at a price 2x higher than current trading price? Without the Vietnam power plant, Toyo is not this price. Anybody can answer to this puzzle?
Convert to tradeable shares and able to dispose at market price. Nobody wants to buy the ICULS at no matter what price unless willing to sell below 90%.
Remember holder of ICUL were group of subcon and suppliers and they're forced to convert outstanding invoices to ICUL. Probably some really need money or boss promise to hike the share price in future for them to sell.
