May. 1 at 10:33 AM
$FBIOP
Accrued interest over 23 months at 9.375% totals
$4.49.
If backdated interest is reinstated this month, an investment of
$14.39 would immediately realize
$4.49 in accumulated interest.
In addition, the residual preferred value of
$9.90 could appreciate toward its
$25 liquidation preference, while continuing to generate
$2.35 in annual interest (a 23.67% yield) per unit.
The question is not if…but when.