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NCI Building Systems Inc. Message Board

  • investing_rules investing_rules Oct 28, 2009 11:42 PM Flag

    How many shares are now OUTSTANDING???

    I would like to know what each of you think. I am trying to look at this dilution and hoping its not as bad as I have calculated. What do you think?

    Exchange for convertible notes:
    $180,000,00 / $1000 = 180,000

    exchange rate = 180,000 * 390 = 70,200,000 shares

    However the statement says that CD&R managed funds will have a 68.5% ownership of the company on an as converted basis.

    So would you then divide the 70,200,000 (newly issued) + 20,000,000 (currently outstanding)by 31.5%? That would mean that there were 287,142,857 shares outstanding now.

    Is that right?? Please tell me no!
    287,142,857 million shares now outstanding??

    That is some heavy dilution.

    Would really like to be wrong please share your calculations.

    Thanks!

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