GREY:MKRYF - Post by User
Comment by
jerrybeon Sep 30, 2015 10:06pm
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Post# 24151842
RE:RE:They have done something I haven't seen in the oil patch...
RE:RE:They have done something I haven't seen in the oil patch...Where did all the money go?
Well, it is pretty simple, they only raised $16.8M from the secondary offering and paid $61.5M cash for the "Wayne acquisition"...the acquisition was financed with too much debt, bringing them dangerously close to the edge...with hindsight, they should have issued much more equity to finance the deal....