According to the company's proxy statement, one of the investors declined, choosing instead to convert $1.7 million worth into shares of common stock that had fallen to around $1. As a result, the company's shares outstanding rose by 9.4percentt, a big dilution to existing stockholders.
Of course, for a company with a $122.7 billion enterprise value (market cap plus debt minus cash), this isn't a terribly big dilution.
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As they see it, Cocos are not just a way for the banks to increase their capital reserves on the cheap but may also make them a bit more cautious, knowing that their shareholders will suffer big losses from dilution if the Cocos ever convert.
Cycle sequencing reactions were performed in 10 μl volumes using a 1/16 dilution of Big Dye Terminator v3.1 ready reaction mix in Big Dye sequencing buffer (Applied Biosystems Inc ., 5 μM M13 primer and 100 ng template DNA.
