Post by
Jipe161 on Oct 31, 2016 9:27am
not bad
575 mil + 386 mil to cover debt. And the possibility to go higher trough auction. For me this sound like we are getting money no ?
Comment by
kennethjw on Oct 31, 2016 11:25am
The Us$386M is a "we-have-you-by-the-balls" working capital loan. The US$575M offer comes before they extinguish what is owed to the creditors. They haven't filed any FS in a while, but that number is likley around US$450M (or higher). Doesn't leave much for shareholders, about US$130M or US$3 / share.
Comment by
ferret_ca on Oct 31, 2016 1:16pm
lmfao $6-7 a share what planet are you from if it started trading now the bid ask is 15 cents, it may never trade again and you end up with 0, tbe is still not trading and never will., similar situation here. only good thing here is there will be some massive savings to be had on sporting goods with blowout sales on the horizon. cheers ferret
Comment by
bavaro75 on Oct 31, 2016 9:50pm
PSG said it will now launch a process to seek other bids with an anticipated offer deadline of Jan. 4. The company will hold an auction, if necessary, on Jan. 9. PSG said its adviser, Centerview Partners LLC, has prepared a list of 90 prospective purchasers that it will now contact. Source = G & M