Stage HoldCo Spinoff and other questionsDoes the spinoff of BBI's stage holdings signal that the new Pipestone company isn't tied to using Stage technology and doesn't "benefit" from the discount for their technology?
Does the new company retain the option to buy into Tidewater?
Will there be a vote on this? 69% of the shares are held by the general public. From what I can see Garth is taken care of but individual investors are not so lucky. There has to be a big upside for shareholders to accept this and a decision like this should be put to a vote.
Instead of aggressive drilling BBI could have slowed things down and waited for the Tidewater completion. Did Garth overreach and grabbed this poison pill rescue? Again it seems to me like Garth is taken care regardless.
Does it feel like Pipestone is taking us over leveraging/saddling shareholders with a massive amount of debt? Is this the best time to be incurring debt as the cost of borrowing is going up?