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China Fund, Inc. (The) Common S Message Board

ex_hacker202 11 posts  |  Last Activity: Apr 7, 2014 7:29 PM Member since: Dec 24, 2007
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  • ex_hacker202 ex_hacker202 Apr 7, 2014 7:29 PM Flag

    Deal is done - and the dilution is bigger than expected now 16%, could be as high as 19%:

    "Nordic American Tankers Ltd. (the "Company") today announced the pricing of its previously announced underwritten public offering for 10,000,000 common shares. Because of strong demand the Company agreed to upsize the offering to 12,000,000 common shares at a public offering price of $8.62 per share. The common shares are being offered pursuant to the Company's effective shelf registration statement Morgan Stanley & Co. LLC is acting as the bookrunning manager for the offering and Global Hunter Securities, LLC is acting as co-manager of the offering. The Company has granted the underwriters a 30-day option to purchase up to an additional 1,800,000 common shares. The Company expects to close the sale of the common shares on April 11, 2014, subject to customary closing conditions."

  • ex_hacker202 ex_hacker202 Apr 7, 2014 7:15 PM Flag

    If it holds around the $8.50 area tomorrow, given typical discounts, offering may go off ~ $8 or so if we're lucky. If the ship additions are immediately acretive to the bottom line, I don't see a problem - companies like GMLP do this regularly. Not so thrilled the the attempt to pull in retail by proudly pushing "The investors participating in this offering are entitled to a dividend of $0.23 per share. This dividend was announced April 2, 2014 and is payable to shareholders of record as of May 15, 2014." in the PR.

  • Reply to

    What is the threshold?

    by rosemountbomber Apr 2, 2014 5:35 AM
    ex_hacker202 ex_hacker202 Apr 2, 2014 11:48 AM Flag

    Not sure the math answers his question - the PR says:

    "We have previously informed investors about the dividend in kind (shares in Nordic American Offshore - NAO) that will be awarded to == NAT shareholders having NAT shares above a certain threshhold

  • Reply to

    Good Bye

    by bbepper Feb 27, 2014 7:53 PM
    ex_hacker202 ex_hacker202 Mar 17, 2014 7:41 PM Flag

    Cleaning the books? What about the MDM buyout FWLT announced last week? Now all the sudden they are selling themselves for a measly $32/shr? This deal STINKS. At least I won't lose money this time like most of the times I've been bought out - hopefully a bidding war will starts over this pitiful bid - recall rumors a few months ago about another company sniffing around FWLT?

  • ex_hacker202 ex_hacker202 Feb 25, 2014 2:40 PM Flag

    Too bad for those "sad" TQNT investors - they can cry and sue all they want, won't accomplish a darn thing. Same thing happened to MIPS last year, a shady deal that robbed shareholders bigtime, lawsuites galore, buyout went through anyway. Your conspiracy theories don't hold water either - more likely the bigger tutes pushed RFMD to merge with someone, not that they got wind of an ongoing deal negotiation in advance.

  • Here's what I wrote on Jan 30 - got it wrong on Blackrock getting RFMD to sell, instead they pushed the Triquint merger - better for RFMD shareholders or not remains to be seen, but at least they finally did something to get this moribund stock moving:

    Just found this tidbit - Blackrock going to make demands for seats on BOD or try to get RFMD to sell itself to the highest bidder? They don't take 10%+ positions just to sit on their hands! "It should also be mentioned that earlier in the month, it was noticed that BlackRock, Inc (NYSE: BLK) now owns 28.8 million shares or 10.2% of all outstanding shares of RF Micro Devices according to an SEC filing - up from last February when it reported holding 23.4 million shares for an 8.4% stake.

  • ex_hacker202 by ex_hacker202 Jan 30, 2014 3:05 PM Flag

    Just found this tidbit - Blackrock going to make demands for seats on BOD or try to get RFMD to sell itself to the highest bidder? They don't take 10%+ positions just to sit on their hands!

    "It should also be mentioned that earlier in the month, it was noticed that BlackRock, Inc (NYSE: BLK) now owns 28.8 million shares or 10.2% of all outstanding shares of RF Micro Devices according to an SEC filing - up from last February when it reported holding 23.4 million shares for an 8.4% stake."

  • ex_hacker202 by ex_hacker202 Jan 27, 2014 3:01 PM Flag

    Have had a buy order in at $75.80, plenty of MM to MM nonsense trades going on around/under my bid, but I'm not getting filled? Spread is huge too - like this one that just posted:

    01/27/14 15:00:17 price 75.6601 bid 75.66 ask 76.00 vol 84

  • Reply to

    Rates

    by ssansevere Jan 22, 2014 9:20 AM
    ex_hacker202 ex_hacker202 Jan 23, 2014 12:38 PM Flag

    From intertanko I see:

    Indicative figures - $/day TC equivalents Change since - $/day TC equivalents

    Segment Dwt Route 23-Jan-14 22-Jan-14 16-Jan-14 23-Jan-13
    Suezmax 130,000 Caribs - US Gulf $41,222 -$23,450 -$28,566 $31,361

    Does that really mean rates on 22-Jan-2014 were $41k + $23k = $64,672 ? Hard to believe if so...

  • Reply to

    Anyone DRIP divs with TDA?

    by ex_hacker202 Jan 15, 2014 12:55 PM
    ex_hacker202 ex_hacker202 Jan 22, 2014 2:14 PM Flag

    Curious what price you got for your shares? Are you enrolled in the DRIP or does Schwab buy open market? Just got my new shares, was worth the wait - got them for $16.45, a 6.5% discount off today's pps - I *am* in the PHT DRIP, TDA said the delay is somehow tied to the plan.

  • Reply to

    Anyone DRIP divs with TDA?

    by ex_hacker202 Jan 15, 2014 12:55 PM
    ex_hacker202 ex_hacker202 Jan 20, 2014 11:19 AM Flag

    Exactly. And my response wasn't going to be quite so polite!

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