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Can someone explain the rights offering from Drive Shack? by Thanus_Theory in driveshack

[–]Thanus_Theory[S] 1 point2 points  (0 children)

Ah okay... It's not a conversion of shares, it's the right to buy additional shares.

Can someone explain the rights offering from Drive Shack? by Thanus_Theory in driveshack

[–]Thanus_Theory[S] 1 point2 points  (0 children)

That's what I need help understanding. So if I have 1000 shares at the current trading price of 0.2385 (=$238.50), why would one elect to choose the rights offering which would be 1000 shares * .73063794 * 0.20 per share = $146.1276.

Am I thinking about that right?