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Issuing more shares is not an issue here. They can sell 20 mil more shares, and get $300 mil easy.
Any equity or debt offering is off the table now. They can't raise anything. Not without selling assets. Come to think of it, the new CFO helped liquidate Borders and Kodak. The story is gone. I think the company is on the block.
They can't sell shares until they clean up the accounting problems, which involves a restatement. The SEC won't allow it.They are also now in default on their loan covenants. That means they are technically in bankruptcy and must get a waiver or they will really be in bankruptcy. I think the odds favor a takeover, but most any bidder is going to have to first negotiate with P&G on Pringles.
If they sell 20 million more shares the dilution would take the stock down to single digits.
Still that will prove liquidity to survive.