I know you are long and probably just very Frustrated like many longs here. Whats your intent on the message above? It was clearly disclosed on the SEC filing that they were taking debt to pay for the acquisition; drew down on the line of credit. What is wrong with reasonable and prudent debt as long as its manageable? Looking at there current filing, looks like its $75 Mil of LOC/debt.
You just seem upset with that comment. Just venting? I was very upset myself with the Eoquin trial. B results was very upsetting to you too. Just hang in there.
Sentiment: Strong Buy
They used that money to buy additional shares from Allos to get total shares tendered up to 90%. So yes they used that money, but they got it right back when the deal closed. We'll see if Raj paid down the loan or not. I'm guessing he did.
A follow up to this. In the financial's of the 8K filed yesterday, they show a $75M liability for the revolving line of credit, so they haven't paid it back yet. If you back that out, they are at $162M for Cash, Cash Equivalents, Short Term Investments and Receivables.
and how much of that do you think they used considering the pile of cash allos had on hand?? come on, you can find better bashing material than that. and yeah, i do know you have been here a long time and still claim to be long.
chiromel, don't be a fool. i am not a basher.
i think they used 80-100 million USD. The allos deal cost north of 200million and allos had 70million in the banks. So with fees north of 10 to 20million they still needed at least 150million USD. So a good part of that was financed by debt.
ps: i am still long with full amount.