I have to forgive the fact that living in NYC has only added to your complete ignorance regarding E&P MLPs.
You New Yorkers think everything is a ponzi scheme. I suppose that a NY state and city governments that rapes you of every dollar of earnings and are the opitome of ponzi schemes would result in seeing the productive private sector in the same way.
You forgot about and you have a hedeg fund under investigation by the SEC, with its middle finger in the air waving it. How can a GOVT as corrupt as ours ever manage to keep the crooks in check.
Funny up 27 cents today add in the $1.50 now and you have down ove $2.00 on limited volume. It's out right corruption and the SEC does nothing.
10 Mil divided by 147 mil. equals to a 6% dilution. Wonder what the new shares will be priced at?
$37.25 X 0.06 equals to $2.235. So $35./share might be something of a reasonable amount, though, I suspect it's lower. I'm guessing $34.50/share, since it took time to do this and the share price was lower then.
I'm in at an avg. of $33.00 so it won't hit me as much as the newest shareholders.
Somehow, I think that shareholders should get to vote as to whether to dilute or not and they should have a real good reason from Mgt. as to why. These surprises though legal suck. The law should be changed. I mean, I'm supposed to be a part owner but am treated like a drug addicted, alcoholic, money mooching trash relative. Is it any wonder why the Fed and the Banksters and Congress which grew up in and inhabit this culture of hubris, act in secret they way they do and spit in the eye of the average American, when they can just get away with anything they want without consequences. This might be a good move by Linn, but I would have liked to have had some public input in a public company.
And another rant. Why can't companies like Linn, just have a public auction with a base amount below which no deal is open to the public, without going through the Banksters, their cronies, and their absurd fees?
you just bitter b/c you told people to short it 6 dollars ago!
they do generate cash. at least state some facts....the ebitda is real hard CASH. yes their biz model is after paying interest exp and capes, distribute a large portion of excess cash. its a very conservative and solid biz model
raising money is purely to give ability to do accretive acquisitions.