Business, 23.09.2019 21:30 dsanders20

On august 1, 2018, limbaugh communications issued $20 million of 10% nonconvertible bonds at 104. the bonds are due on july 31, 2038. each $1,000 bond was issued with 30 detachable stock warrants, each of which entitled the bondholder to purchase, for $50, one share of limbaugh communications' no par common stock. interstate containers purchased 20% of the bond issue. on august 1, 2018, the market value of the common stock was $47 per share and the market value of each warrant was $6.

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On august 1, 2018, limbaugh communications issued $20 million of 10% nonconvertible bonds at 104. th...

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