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Condor Hospitality Trust Inc. Message Board

  • reitselector reitselector Nov 23, 2010 4:18 PM Flag

    Shelf registration

    I was concerned about SPPR announcing a $20 million shelf registration. No one likes dilution. So I called CEO Walters to find out what is going on (his calls are not screened). He explained that SPPR placed a $100 million shelf registration three years ago which is expiring. There is no immediate plan to issue any stock but that it is good to have some registered in case the need for it should arise.
    I think that this registration when not explained in the context of an expiring registration has spooked the SPPR market.
    He also indicated that SPPR does not have any properties in either North or South Korea. :)

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    • I put in a large buy order at $1.45 that only partially filled but was still open at the close. The stock closed at $1.43 without filling my order very similar to what was posted last week.

      On an unrelated note, you have to remember that if 125,000 of SPPR were sold 125,000 shares of SPPR were purchased.

      • 2 Replies to namll71
      • 3,100 @ $1.35 ...that's my next order...good til' cancelled. I'll just sleep on it in the morning...never know?...and I'll not try to predict things right here...but $1.35 seems to be decent...

        I remember when we blasted off last time - started at $1.38, when some 'entity' came in, and tons of shares traded...went all the way to $2.00...I don't know what that was all about / thought it might be a boutique microcap-value fund, or something. Well, we're basically back to "there" again...we'll see if 'they' wanna add to that position?

        Anyway, good luck tomorrow...I'm on the West Coast, so I generally get on later...sleep in, a bit...

      • well, I can't take full credit for the 125,000 shares bought...but I did my part...and if/when this pup rises again, I might disclose my shares. Too embarrassed now tho...hahahaha. I'd love to see what these will be in 18 months...just have to wait....inflate me, BEN!

    • CEO shoulda' "splaned it" better....

    • are you sure SPPR doesn't have a hotel on that 'shelled island'?...I swore I saw the sign blazing! hahaha...(i can still laugh?...hmmm)

      Anyway, I was buying shares from $1.47 to 1.44...good thing?...oh, I'd say it can still go lower...and I'll look for more, tomorrow...fear reigns. blood flows.

      I have seen that, at times in the past, they have released some shares, I believe...bits at a time...and knew they had that stuff "on the shelf". >

      Ya know....if you had your choice of 'dilution to reduce debt'...or selling off "props" 'on the cheap' to raise capital...or going out and looking for even more debt, well, I'd rather any of the REITS use 'sale of new shares' vs. the other 2...and most REITS have done that, and shares came out well, later.

      So, no getting around a "bloodbath day"...happened...and could continue. But I'd rather they go 'the new equity route', when they need to, rather than sell assets 'on the cheap', or grab more debt...I hate debt / don't have any.

      well...good luck to all tomorrow..we'll see if any buyers show up...I think I was one of the few...hmmmmm.

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