RE:RE:RE:Back down to $3...share sale adding over 8 million of themSomeone check my math.
So, they said that the deal was going to cost them $123 million, and it turned out to be $130 million.
They said they were going to get $30 million for the 3 buildings, turns out they are only worth $23 million.
So, this deal cost $14 million more than what they thought. Oops. (I still think it's a great deal.)
Higher interest rates on a $14 million dollar mistake might knee-cap the company, and this offering effectively fixes that mistake, at a cost of 20% equity to each share.
I'm concerned too, but with the moves they have made over the past 3 years, I'm hoping it's a minor setback.
And, like a few of you, I sold off enough now that I'm playing with house money. Time to let it ride.
Cheers to all.
SS