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DNR - Denbury Resources: Common Shares Are Worth Close To Zero
Denbury Resources Inc.
Denbury Resources (DNR) is filing for bankruptcy and shareholders are expected to get warrants according to the Restructuring Support Agreement. The value of the warrants appears to be under a penny per current Denbury share. Thus, the main hope for common shareholders is that there is some sort of trading-related spike that allows them to sell the shares before they get converted into warrants.
Series B Warrants
Denbury's common shares are getting Series B warrants as their return, assuming that shareholders and subordinated noteholders both vote to accept the plan. If the