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PICO Holdings, Inc. (PICO) Message Board

  • long_or_short_of_it long_or_short_of_it Dec 16, 1999 3:40 PM Flag

    All right. Okay. I'm in

    at 14 3/4. There will be life in this vehicle
    yet(I hope).

    I think HYPR will do something that
    will make everybody forget the IPO. I think the water
    operations should also give us something other than a

    While this could go lower on tax selling, I think the
    upside exceeds the downside.

    Buy for now.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • Do you think the investment partnership standing
      along the sideline is a safety net, a hammock, or a

      It seems to me if it is serious money, they will be
      filling up below $15 and this distribution will become
      accumulation. We have had nice volume today.

      This is an
      odd assortment of businesses. The water assets are
      very long plays in comparison to the likes of

      My take on this is perhaps nothing now is in the
      immediate offing for HYPR. I thought this asset would be
      monetized in the short term but I think this might not be
      the case.

      Are you aware of any near term cash
      requirement that would require them to fund?

    • and buy up to half of what we hold at prices
      greater than we can get on the market.
      PICO continues
      to disappoint me. I got sucked in to exercisce my
      Global Equity warrants the day they expired at over 23
      bucks. That day or the day before the stock went wild on
      huge volume---seemed at the time like I better get in
      so I could recoup my original investment in the
      purchase of the warrants.
      As I say--I am very
      disappointed in the way the company has conducted itself.

      • 2 Replies to danbyrne
      • disappointment in what has and has not happened.
        Definitely not trading like a dot com stock. I looked at it
        a couple of months ago but I think and hope
        something good is in the wind.

        I can see the sale at
        15 would be dilutive of anyone's holdings who would
        not exercise the right. It does make sense they would
        at least do it through a rights offering.

        does appear to me if an entity is willing to pony up
        $50 million at $15 it APPEARS on the surface to be
        worth my while.

        The offering should spell it


        LA JOLLA, Calif., Dec 17, 1999 /PRNewswire via
        COMTEX/ -- PICO
        Holdings, Inc. ("PICO") announced
        that the Board of Directors yesterday
        approved a
        rights offering of PICO common stock.

        The rights
        offering will give shareholders the opportunity to
        their investment in PICO through receiving a
        right to buy one share of
        PICO stock for every two
        shares held. Each right will be exercisable
        for a
        price of $15.00, which represents the average price of
        PICO stock
        for the previous twenty trading days.

        The additional capital raised by the rights offering
        will be used to
        further develop existing water
        assets and acquire additional water
        assets, to make
        strategic investments, and working capital needs.

        PICO has entered into an agreement with an investment
        partnership to
        purchase $50 million of PICO stock not
        subscribed for by PICO's
        shareholders in the rights

        This press release is not an offer to
        sell common shares of PICO
        Holdings, Inc. The
        offering will be made only by means of a prospectus.

        No shares can be offered until a registration
        statement has become

        This press
        release contains a number of "forward-looking statements"

        within the meaning of various provisions of the
        Securities Act and the
        Exchange Act, including, without
        limitation, statements about PICO's
        plans for expansion,
        investing philosophy, and business expectations,
        statements reflect PICO's current views with respect to
        events that will have an effect on PICO's
        financial performance. PICO
        cautions investors that any
        forward-looking statements made by PICO are
        subject to
        various risks and uncertainties that could cause actual

        results to differ materially from such forward-looking
        statements or
        from historical results. Readers are
        cautioned not to place undue
        reliance on these
        forward-looking statements.

        PICO is a holding company
        with offices in La Jolla, California,
        engaged in property and casualty insurance; the
        of surface, water and mineral rights; and
        strategic investing. PICO
        shares are traded on the
        Nasdaq National Market under the symbol
        Further information is available through PICO's website
        at .

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