GREY:LSTMF - Post by User
Comment by
jerrybeon Jul 05, 2015 3:36pm
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Post# 23893090
RE:RE:RE:RE:Lightstream Announces $90 Million Debt Reduction
RE:RE:RE:RE:Lightstream Announces $90 Million Debt Reduction Are they "loading the gun" to buy Spyglass in distress?
Two distressed firms put together = A bigger distressed firm...
Remember that our pal JW is sitting on the board of SGL...a board that did not get re-elected by its shareholders...
SGL got a last minute reprieve from BK last week but they still need to reduce debt by $100M or so in the next six months or else...
SGL's equity is almost whiped out...LTS would basically assume all the debt and get a bigger production and asset base...I am sure JW is salivating at the thought of buying that little company...
We all thought the debt deal LTS struck in May was very constraining, with the silver lining that at least someone was starting to get a handle on management's mismanagement...and now, we see they just bought themselves more flexibility. If it is not to acquire another firm, then I am quite curious as to what they intend to do with the new found flexibility...just my thoughts...GLTA!