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Clean Energy Fuels Corp. Message Board

  • brookl089 brookl089 Mar 6, 2013 9:36 PM Flag

    My take on the CHK Covertible Debt

    At first glance, CLNE came out ahead by almost $22MM. They took in $100MM in cash and only had to issue stock worth $78MM on paper. The balance sheet will look better as assets increased by a higher amount than stockholders equity and the income statement will have a corresponding decrease in interest expense. All positive items. Stock dilution is muted with the aforementioned items.

    Shares Price Extension
    6,329,112 15.80 99,999,970
    6,329,112 12.34 78,101,242
    -----------------
    21,898,728 extraordinary gain for 1st quarter

    Downside items:
    - The last $50MM tranche from CHK will not be available (Seeking Alpha guy predicted this)
    - From 10k; 2013 planned cap-ex of $186.2MM (Mgmt. will need to significantly curb cap-ex plans)
    - $12.34 price. I don't understand how this was derived. Did the brokers sell short during last two weeks in anticipation of this event? Is this why the stock went to $11.80 recently? It sure seems like insiders knew this was going on. Everything the Seeking Alpha guy said was old news except for the part about the availability of the last $50MM tranche from CHK. A $100MM is a drop in the bucket for CHK unless they are really having problems.
    - What's with the poison pill text too? The preferred stock etc. Are they afraid Icahn or Einhorn is going to end their "gravy train"?

    If I'm half right about the $12.34 price, then the stock should trade around were it left off at 3pm.

    Thoughts anyone?

    Sentiment: Buy

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    • I for one am glad chk is leaving, I never liked the idea of them having such a large stake with us,
      too much shady dealings around chk IMO

    • "- $12.34 price. I don't understand how this was derived. "
      it's in the S3

      "Proposed
      maximum
      offering price
      per unit (2)

      $12.34

      (2) Estimated for purposes of calculating the registration fee in accordance with Rule 457(c)
      under the Securities Act, based upon the average of the high and low price of the common stock
      as provided by the Nasdaq Global Market on February 27, 2013"

    • Good summory of existing problems. Manipulation has been rampant As you pointed out 100Mil is not a lot of money for CHK. I,m not surprised to see CHK pull out of this investment as i have often pointed out on this board. My take , too much self serving selfishness by few insiders and the lock of an aggressive plan to increse Ng sales has caused CHK management to rethink their investment in CLNE. A shake up by the board is imminent. A 32% SP loss for the year is not a laughing matter.

      • 1 Reply to teach_162
      • i have been posting here for years and I would not buy this stock because of management and because they are just managers
        I do not believe that Ck did this for themselfs
        Clne would have been out of money at the end of this year
        This was done to help them out
        There is no way this is a better deal than they had, they paid over market price for the stock
        They lent money to help clne and had a great deal Now they can get out what they put in and ng is much farther along with their loan
        If the stock was close to good it is 500% better now
        When I am wrong I admit it
        There is no way this is not positive for this stock
        They now have time for volume at stations,gives them maybe two more years and if you look clne is now investing in stations that are not long time to pay off
        Also this is a complete change in now they can supply equipment and not lease
        As you can see I do not own or short the stock so I try to honestly talk about the stock anf am not one sided when I post

    • pfishtown@gmail.com pfishtown Mar 6, 2013 10:23 PM Flag

      so what happens tomorrow?

 
CLNE
2.75+0.10(+3.64%)May 5 4:00 PMEDT