How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Taxtom Your Own Question
Taxtom, Accountant
Category: Finance
Satisfied Customers: 2364
Experience:  25 Years in preparing Personal and Business Tax Retuns
Type Your Finance Question Here...
Taxtom is online now
A new question is answered every 9 seconds

This is more of a finance question, but here goes. I own

This answer was rated:

This is more of a finance question, but here goes.

I own a $1,000 bond issued by the old General Motors, now known as Motors Liquidation. Motors Liquidation owns 10% of the old GM, and they have warrants for 15% more. We bondholders are asked to vote on the current reorganization plan in which we bond holders will get some GM stock. What I can't seem to figure out is how many shares of the new GM stock we will get per each $1,000 bond.

Taxtom :

Hello, Sorry this took so long the infromation was hard to come by. It appears that the exchange rate is 2.25 new stock shares per $1,000 face value bond but they are not issuing fractional shares so if you only have one bond it would round down to 2 shares. Here is an article that explains it Thanks Tom

Taxtom and other Finance Specialists are ready to help you