Originally Posted by
homer985
FWIW, this isn't a shelf registration... this is a registration statement (Prospectus) that falls under the previous Shelf.
In this situation, when XM did their exchange of the Dec09 bonds, they exchange $172MM worth of old bonds for new ones -- and gave each holder a choice of $50 or 833 shares of stock (per $1,000 Note).
Per that agreement, XM agreed to register the shares for sale. This prospectus does that.
When XM did the exchange, it was a private placement - therefore the new Notes and shares given were unregistered. This registers them.
This is not a new shelf or a new sale. Sirius gets nothing for this -- and it has no impact on the companies Market Value.
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