GREY:FTPLF - Post by User
Post by
Nighthawk40on Dec 12, 2010 10:04pm
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Post# 17836426
Private Placement of 8 million to...
Private Placement of 8 million to...A group of investors led by Chad redeemed a convertible loan to initially help purchase Fortress Paper from Mercer International Inc.
The CEO, Chad is the major shareholder with 24.7 % or 3,110,839 shares.
Why the history lesson?
If I were an investor, I would be quite pleased to double my money. (Target 16 million)
Based on Friday's closing price of $43.30, Chad's net worth based solely on ownership of FTP shares is an impressive 134 + million.
If Chad sells only 400,000 shares, based on the above share price, Chad will pocket approx. 17.3 million.
It is very prudent and wise for Chad to provide some Christmas cheer to the initial investors who were instrumental in helping him acquire FTP.
Chad will still have approx. 2.7 million shares or 21.5% of the available shares of FTP.
Merry Christmas!
Nighthawk