Tidewater Midstream and Infrastructure Ltd T.TWM.DB.A

new convert

[pennydredful]

should  go  over  like   a lead  balloon

[pierrelebel]

I like 8% (plus potential gain) and my wife and I will subscribe for our TFSAs

[TVR]

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.

[Ogopogo26]

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!

[pennydredful]

Looks   like  the   NCIB   was   a deception   hoping  to  move   the stock   up   prior   to  sale  of   conv.     

[longrun86]

They lost credibility with the NCIB on the conference call when they admitted they probably wouldn't be doing anything. The market doesn't like the Convertible issuance but I actually applaud them for getting this done. I don't think the terms are overly draconian considering the situation of the Company. It's good to get this off their back so that they can focus on other

[Ogopogo26]

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.

[nkbourbaki]

Given the state of the company, the 8% coupon is pretty darn attractive.  But they paid for it dearly with such dilutative conversion privileges. Clearly they were negotiating to minimize interest payments and preserve cash, and going from $75m to potentially $100m (if overallotment is exercised) of this expensive capital isn't a great sign IMO.  Anyone else surprised they're

[longrun86]

Until Management communicates the the operational and profitability challenges are behind them there is no reason for this to trade higher. Taking care of the balance sheet is an important issue for them but the attention must quickly turn to value creation. The TWM and LCFS situation remains a bit of a mess. Based on their current actions, they would rather refinance and dilute current

[goodbuddy]

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!

[goodbuddy]

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.

[goodbuddy]

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.

[goodbuddy]

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.