Post by
colourama on Nov 09, 2023 2:17pm
SSI acquisition closed
After a long wait, great news that the SSI acquisition has finally closed, with the same terms as in the orignal agreement as far as I can tell. Forwards and onwards!
Comment by
Bigmac4000 on Nov 09, 2023 3:18pm
I was two days off. I need a new source lol. Not liking the interest on parts of that loan. Hopefully they can reorganize that in the future. 14% is a kick but if things stay the same the debt is manageable.
Comment by
colourama on Nov 09, 2023 3:37pm
With 2022 TTM net income of $4.9 million from SSI, they probably ran the numbers and can comfortably tackle the debt with the added income stream. Still, a long way from interest levels just a couple of years ago!
Comment by
BrokeStocker on Nov 09, 2023 3:42pm
I'm shocked they can get away with announcing such material news during trading without a halt.
Comment by
CauseWhyNot on Nov 09, 2023 10:35pm
I haven't kept up with securities law or exchange rules, but you only need to halt if you think there is a chance of non-public info was leaked before a material announcement. Given everyone knew it was coming, it's a non event. however, they should have halted as it would have gotten more attention.. it would have been a good pr thing