MHR has only 11M cash, but about 1B debt. It is not a surprise.
SD has about 900M cash, 3.2B debt. CEO stated there is no liquidity issue several times, no analyst believe so either. It is not the same thing, shortie!
"The initial conversion rate is 363.6363 shares of Common Stock, per $1,000 principal amount of Additional Convertible Notes (representing an initial conversion price of $2.75 per share), subject to adjustment upon the occurrence of certain events. "
Basically SD sold $300 M at $2.75 per share, dilution is a little over 1 million shares
Is this correct? If so, why is it not a huge good news? Institutes bought SD at $2..75, they will work on it to make sure SD is over $2.75 one day.
June 26, is tomorrow, but check out the year. I am guessing SA article authur made a mistake. It was a old news, at least 10 years old.
but they still sold %75 for US $344M, right? Money is money. They have zero debt. If they return $344M to share holders, each share would get $6.14
Whenever a company is sold with premium, the stock price always spike to match the selling price.
AMCN sold 75% (not quite 100%, but most of itself) for US $ 344M, that is US $ 458.7M for 100%. The outstanding shares are about 56m, so each share should be worth $8.19.
Please correct me if I miss something big.
Will AMCN just return those $344M to share holders? I would get about $6.14 per share, plus still owning AMCN.
Yahoo finance stil says HERO has more than 200M cash. How come they have to file chapter 11?
PBMD has a good data with phase II, but it has only $4M cash. They must offer new shares to get some money for the future development.. This must be the reason why it is tanking everyday. I will wait after the share dilution.