what? it was already amended as explained in the earnings call. The new 8k is the actual paying off Silicon Valley, all amendments, and states the new loan 1st tranch was used to pay Silicon. That is all this is
again, depends on whether IB brought in for an open bidding process or a targeted sale. If targeted, which I have made my thesis known about ZLTQ, then likely before eoy. if open, then about 6 months
this is why fanning left i believe. Solta was his baby he took public. based on the director buying in May, and based on ZLTQ acitivity lately, I would venture to say its a merger with Zeltiq
he's a VP, not in any merger or buy out loop, he would not know anything. It's likely he needed a little liquidity as this time of year, many insiders shave a bit for tax reasons, holiday shopping, etc, etc. if it was a director, I would be very concerned because they are " in the know" Director, CFO, CEO, yes, because they are supposed to be "blacked out."
depends on why they brought in. I believe it's a targeted acquisition. which means Solta was already talking to the "target" and needed investment bank to "make it work." PJ been involved now I estimate from the beginning of September. If say an "open bid" process, VOCE identified 3 interested parties. I have found 2 additional ones. so less time. However, Solta's latest very high interest loan is likely a "shark repellant" to keep those potential bidders away (screws us, but board do what is always good for them!) so they can complete a merger with Zeltiq.. that is my opinion.
perhaps he didnt want to merge with Zeltiq because he would not be able to "lead" Solta and felt it was his "baby?" speculative thought, but consider directors buying shares in May - about the time VOCE started up.
That's why they have a financial adviser/ investment bank right? this why VOCE has not said anything? try this -- need money to pay severance pay for everyone who is laid off and will be laid off in a merger. Company knows they are on notice. They know about me, Callan, VOCE and a ton more peeved off stock holders. I don't think they want us independently and collectively engaging legal action to force a special shareholder's meeting to vote them all out. the 13.5% rate is very high, when considering all factors, tells me it's going to be paid back very quickly. if by some chance you are correct, then we should hear VOCE going nutso. Dan hasnt though, this should tell you something.
a deal is already done in my strongest opinion. Aks yourself Yoda why Solta took such a high interest loan? I think it was the quickest option to get cash, why? SEVERANCE pay to a lot of people for change of control in company. otherwise, they work out a much better loan if really for long term capitalization. they still had plenty of money in terms of operations.. they needed this loan super fast and a lot of money. 13M left over = pay off severance in my opinion. I look for a merger with ZLTQ, and I believe underwriters will assume part or all of Solta's debt as part of the underwriting deal of a new company.
my bad, it is in fact in the 10Q.. did you consider with ZLTQ price action and their current "offering". along with new levered recap that Solta might concerned about a hostile take over and is using this as a "shark repellant" in order to make sure a deal with ZLTQ completes without the risk of a hostile, say a chinese company coming in and grabbing company? Seems to me Piper would have advised this if in fact the process here was a targeted sale. Again, based on ZLTQ's deals and artificially inflated price, it appears they are making room for a share swap merger/acquisition. You mentioned CUTR before, but a merger with them would not work for SOLTA shareholders unless 1 for 1. there is no way CUTERA would take on 80M shares right now -- that deal does not work.
How did you know the exact terms of this loan before it was made public? I think you might want to explain that one, unless I am missing something.
they told you about this in their earnings call! - no! always biz as usual! from my point of view, they have until eoy. afterwards, If no sale by then, I go full activist. which will include legal action to remove board is needed
the loan taken out can scale in nicely with ZLTQ, add 12 million or so to ZLTQ cash balance and add 40M debt, which is good to carry moving forward. this allows proper scaled leverage for ZLTQ, and as mentioned, can allow almost all of ZLTQ BOD to sit on ZLTQ board == like us hitting a daily double.. I'm sure I am right here. Can I guarantee it? no, I just know these things really well. ask yourself why Mark did not cut months ago, why now? and who was cut? figure it out
didnt consider that one ay? $VRX likely offered/would offer more for us the shareholder, but if we get 3.05 to 3.25, which is my current estimate based on ZLTQ 20 day rolling close average from the 4th to the 29th, based on 1 for 5 area swap, i would be ok with that. rather obvious to me they have a deal already with ZLTQ, just have to have the 20 day average closing price of ZLTQ at the set average to get deal to finalize/announced. DD mergers and parent merger company 20 day average closing price
i agree, now Yoda, now read the 10q exhibits for Solta. A merger - they lose their jobs at Solta = read the perks and instant vestment. Now, with a ZLTQ merger, Mark gets to sell his 250k plus position here, 200% salary, and likely gets to sit on an expanded ZLTQ board = new perks and stock options... U were saying what now about "looking out for themselves?"
Do you know what a scaled merger is sch? It always shocks me just how little people who trade and invest know about biz and the market
tea leaves Sch, its not what anyone believes. its on action or lack therof. VOCE not saying a word. ask yourself whats going on with ZLTQ price action. u are aware of a the 20 day closing price standard merger deal, right?
so u believe an apple and orange are the same? the b/o for amrn was never going to happen. single asset, no company structure, no revenue. investing and trading on severe generalities is a losing prop sch