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School Specialty Inc. Message Board

  • hjeffer846x hjeffer846x Jan 27, 2013 8:53 PM Flag

    RE: The explosion...

    Wow...am I the only one that is having problems with Yahoo message boards..? Anyway, I have posted several scenarios as to the possible outcome of SCHS...another one: As the company IS making money, surely the lenders would allow: 1) The company to sell stock with unit (warrants) to make up the covenant amounts....Heck, sell 50 mil stock with warrants for a $1.50 ...that would be more than enough to be in compliance with the covenant, pay off some debt, and leave a little for reserve. The dilution factor, after paying down debt, etc, would almost be nil....frankly, would be a positive for the stock value. Yes, the company would have 120 mil after all is done....but that would be negligible if the earnings were improved by debt payment. 2) I stated before that anyone with 350 million could buy the company and pay off ALL debt...and have a money maker....well, actually pay $4 per share, 80 mill, and half the debt, 150 million, and buy the company for 230 mill total....anyway, what I am trying to illustrate, there are MANY ways this company can come out of the forbearance in a win/win for all concerned.....I, after a LOT of research, can not see how bankruptcy would help the company OR the lenders....Comments?....GLTA (except the shorters of course)

    Sentiment: Buy

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