If they liked it in the $4-5 range,now at $2.60 it's a easy takeover,Celgene has deep pockets and like to empty them in growth companies.
He picked up 1.4 million shares,just over 7%,but I can't find out the price,look on Edgars.
With a market value of less than 160 million and no debt,it pays for either Maserk or the Saudis to just buy hero instead of leasing their rigs,esp. since the assets are valued between 600-800 million,did the bond holders accept this deal just to make hero a easier sell? With the price of hero stock now bond holders are getting less than .15 on each dollar they had invested,why would they do that and lend another 450 million if they did'nt have a deal in place?
The bond holders got only .15 on the dollar and then they put another another 450 million in the pot.This either means that they have had inside info. about contracts not yet announced or they are insane and have a death wish to lose more money.Price action makes no sense.
When I called the the court to find out what was the story on the bankrupcy was,I was told that bondholders were to get 41% of the 1.2 billion they were owed in stock and shareholders would get .031 of that amount.1.2 billion times .41 equals 492 million dollars times .031 equals 15.25 million divided by 161 million shares is .09 share.Shareholders are getting half of that,does anyone know how and why this happened?Did the bondholders only get 246 million out of the 1.2 billion owed to them?
At current price shareholders get less than a nickel a share,and warrants that are worthless,the least we should have gotten is .09 a share,which exuates to $24 a share with the conversion. Looking back the best thing to do was to sell at .28 and never look back,the only ones making money here are the ceo and his cronies,what ever happened to going to jail for fraud?
Amsc cases will be all dismissed,but Sinovel's countersuits will be upheld and the Chinese gov. will confiscate all of Amsc's holdings in China,that's why the pps is going down even with the 40 million order.
That is why they should all be replaced,why would anyone invest in a company when thier own management team has no confidence.