Following second quarter financial reporting, MNKD's price rose to $5.75.
At that point, our convertible note holders could have converted at $5.21 per share. They didn't convert, even though it would have relieved MNKD of $230. M of debt, and increased its shareholders' equity by the same amount. That probably would have propelled MNKD's price even further. Now, why would they not have converted? Just thinking.