BBTV Holdings 7 Unsecured Convertible Debentures T.BBTV.DB

Impressive Financing Package

[optimalmarket]

A lot of people thought the debt on the books was going to be an issue for this company.  This package was very well structured and demonstrated that management and board are sophisticated in their ability to protect against dilution and protect shareholder value.  They were able to: 1- Reduce senior the senior debt load by $20M, 2- Defer the balance of the debt ($29M) by 5 years with no repayment penalty which converts at a 20% premium to market at end of term 3- Execute a guaranteed $15M bought deal and 4- Add a new $20M institutional investor on a non-brokered basis which happens to be a trillion dollar insititional investor.  This will allow the company to get its M&A program on track and execute new catalysts.  This is likely the bottom.  While there may be some volatility around the financing announcement date (there usually is) the smart money will start accumulating here and we are likelly coming back from here.  GLTA