Why P-Wave Holdings gave 50 million credit to powerwave
which I would have deemed impossible just a few days ago given the state of the business. While PWAV will have to pay a hefty price the credit conditions could have been much worse and give some much needed breathing room. There will be dilution to some extent but at a market cap of below $20 mln bankruptcy is already priced into the shares. So there should be some good upside going forward, perhaps to the $1.50 to $2 range. If the company will be able to announce some contract wins or improved results the stock might get wings.