Comment by
Raymondjames on Sep 23, 2019 4:16pm
White Knight has arrived to save the company. Should see a lift in common shares and notes. Company was toast without this capital infusion.
Comment by
maldwyn on Sep 23, 2019 4:23pm
Recapitalizations rarely raise the share price for existing shareholders. I think the increase in shares outstanding is about 3-fold, but could be wrong about that. Certainly explains the lack of insider buying even at these depressed prices. I think will open down tomorrow.
Comment by
Stratocheif on Sep 23, 2019 6:01pm
Why is it any better now. The money from the new equity will not be used to pay down debt. And in addition they will pile on more debt with 15 million more notes at 10%.