Post by
pennydredful on May 28, 2024 5:33pm
new convert
should go over like a lead balloon
Comment by
pierrelebel on May 28, 2024 5:40pm
I like 8% (plus potential gain) and my wife and I will subscribe for our TFSAs
Comment by
TVR on May 28, 2024 6:24pm
Scotia iTrade already showing this as closed at 6.15pm, so did not take long to sell. You can be sure the brokers will fully excercise their over subscription allowance.
Comment by
Ogopogo26 on May 28, 2024 10:08pm
Well done, rolling a 5.5% CB with a $1.86 conversion price into an 8% CB with a $0.78 conversion price! Have to applaud management for their genius (sorry, can't help myself...). And this is after getting $650 million selling their best assets to Altagas and now being left with a bunch of midstream assets that don't generate cash flow. Sticking to LCFS!
Comment by
pennydredful on May 29, 2024 10:51am
Looks like the NCIB was a deception hoping to move the stock up prior to sale of conv.
Comment by
Ogopogo26 on May 29, 2024 11:23am
At $0.78 - not considering overallotment - will be 96 million new shares, over 20% of current outstanding shares. Quite a dilution! Beggars can't be choosers.... shows how much this has been mismanaged to be in that situation.
Comment by
goodbuddy on May 30, 2024 11:15pm
I'm surprised that someone is willling to take that on for 8%. I have read a report on renewables, that it was reported the high cost of producing renewables. And that the return will take much longer than previously thought. This came from a large global company. Tidewater is trending in uncharted waters!
Comment by
goodbuddy on May 30, 2024 11:30pm
In my post on January 6 or close to, I said the stock is worth 48% lower which would of place my TP at $0.55 ish. The new 52 week low touched $0.57, I'm not there yet to downgrade the stock further, but what I have read and what TWM posters are seeing now on this board, I can confidently say it could go much lower.
Comment by
goodbuddy on May 30, 2024 11:22pm
when the NCIB was first announced, the previous CEO was in charge, now that the NCIB doesn't look like it will happen, this is coming from the new CEO. I'm not sure if tidewater has or had a intelligent CEO, time will tell.
Comment by
goodbuddy on May 30, 2024 11:06pm
I was always in the camp that the NCIB would never happen. My thesis was that TWM business didn't have the cashflow generating business to support that business model to convinces shareholders that TWM shares are solid.