are you suggesting the NYSE overrode NCT's stated shareholder of record date of may 6th? If so why hasn't NCT rescinded the May 6th date and made it clear you can buy NCT right up to the distribution date and still get spinoff shares of NRZ?
So you can buy shares of NCT right up until the distribution date and still get the spinoff shares?
If that is right, how does the may 6th shareholder of record apply?
"The distribution will be made on or about May 15, 2013 (the “Distribution Date”) to Newcastle stockholders of record (“Newcastle Record Holders”) as of 5:00 p.m., Eastern Time, on May 6, 2013 (the “Record Date”). "
Sorry, but I'm still missing something.
as of 5pm est yesterday to get the NRZ spinoff shares when issued around the 15th of May. So how is it that NCT is trading up today? I assume I'm not understanding something as I see anyone buying NCT today is not going to get the spinoff shares of NRZ. That makes for very high priced NCT At 12 bucks +. Like I said I must be missing something.....anyone??
well at least NCT.W is trading somewhere , but not Ameritrade as they show it as an invalid symbol.
On the site I watch stock quotes it shows NCT.W trading quite briskly with over 660k shares traded with a low of 4.64, a high of 5.11 and current price of 4.83.
The Sec PRE-14A was filed on 04/12 with the same information about increasing the shares which makes this old news. Most shareholders were aware of this almost 2 weeks ago.
Those are options to purchase shares recently awarded to the CEO and CFO. Those options from what I see can't be exercised until 2015.
I guess "you're" the main reason Brown University didn't pick up the option to use the "What Can Brown Do For You" ad campaign.
A smart investor would actually see it is not an additional billion new shares. They are proposing an additional authorization of 500 million shares to the 600 million authorized in 2002 which brings it to a total of 1.1 billion shares. Having the ability to sell a total of 1.1 billion shares is not dilution. If you are as smart as you think you are you would know the spinoff will cause a basic halving of the current PPS. That means when they want to do an SPO post spinoff it is likely it will take 2 shares to raise 10 dollars rather than the 1 share it would take prior to the spinoff, hence the need to double the shares authorized.
The filing today is an amendment to the 1/7/13 filing. Not even sure what they amended, but the fact they did indicates to me they are ready to go.