Company is offering to exchange each Series A Preferred Stock (Ticker CDORP) for 5.38 shares of common stock (Ticker CDOR). There is similar exchange with Series B Preferred stock, but currently there is no upside on it.
Current Price CDORP – $8;
Current Price CDOR – $1.61;
Value of CDORP if exchanged for 5.38 CDOR shares – $8.66;
Upside – 8%;
No proration – all shares submitted for exchange will be accepted (subject to conditions described below);
Expiration date – TBD