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Elecsys Corporation Message Board

  • Eggplant101 Eggplant101 Jun 29, 2011 1:31 PM Flag

    My hunch . .

    This may be silly speculation, but here goes:

    On 4/23 NMRX filed a mixed-shelf registration for $30m, presumably stock for an acquisition. Simultaneously, they increased their (undrawn) bank line of credit from $5m to $10m. The press release at the time was cagey and non-committal, with an oblique reference to possible future acqisitions. The S-3 went effective on 5/3 -- so they've had their dry powder for two months now . . .

    Well, as it happens, these #'s sort of wrap snugly around the cap structure of ESYS, allowing for a moderate acquisition premium.

    Who knows? I admit this sort of speculation is silly.