Excite@Home Toxic Convert Rears Ugly Head

from the we-warned-you... dept

Ed writes "A few months ago, Techdirt covered Excite@Home's deal to get $100 million in financing through a toxic death spiral convertible. Well, now apparently the rest of the world is discovering just how poisonous the terms are. It's being reported that if ATHM gets delisted, the $100 million becomes due immediately, in cash. Of course, that news helped drive ATHM well under a dollar today." Would it be extra obnoxious to add "we told you so" on to the end of this story? Oh well. Doesn't look good for ATHM. Thanks to Ed, for pointing this out.