Big Week - Place Your Bets !This is probably the biggest week in FT's history. They appear to be functionally out of money, with a large portion of debt, bearing a high interest rate coming due this week.
1. Do they announce a full financing deal to begin engineering & construction?
2. Do they announce a bridge financing deal to provide interim financing to continue operations (lol, who would want to provide funds now that there is a higher positioned, secured lender already!)
2. Do they announce a sale to a deep-pocketed corporation at a 75-100% premium to the current share price (thereby providing shareholders at least some degree of return other than bankruptcy).
3. Do they call it a day, declare bankruptcy and leave shareholders with a giant bag of coal for Christmas? I think the best part would be if senior leadership were also able to negotiate a transition to the new company to continue managing it, lol.
Place your bets! I believe they will be forced into bankruptcy since the lending environment is just not conducive to loans and construction right now.
What I would like to see is an outright sale, with shareholders at least getting something in return (albeit pennies on the dollar for some shareholders).