http://www.cnbc.com/id/48516238 Knight Capital Group has been saved with an infusion of $400 million in the form of a convertible preferred security that gives the buyers the right to buy Knight shares at $1.50, according to sources close to the deal. The private-equity firm of General Atlantic (which owns the Getco market maker) along with Blackstone private equity, Omaha brokerage firm TD Ameritrade [AMTD Loading... () ], and Stifel Nicolas will buy the $400 million preferred, which has a conversion price of $1.50. The four buyers of the preferred will together own about 70 percent of the firm, which upon conversion of the preferred, will see its share count rise from a hundred million shares to roughly 350 million shares. The coupon on the preferred is 2 percent, but all the firms are expected to convert after 10 business days.
@ETr's - great replies in thread KCG was 10$ and if you give it a 70% haircut ... you get 3$. I wonder if we'll get 3+3.50$ strikes tomorrow ... I see them on eOptions platform, but not traded yet.