But its not trading.
pricing of the offering ?
I haven't been here for 10 years. I first bought 1/28/13 at $44.40.
I missed reinvesting the first dividend but have since then. And I bought 125% more at $40.51.
This is my first utility. Im inclined go reinvest dividends long term unless the stock were to rally to $55 or something. Then I might stop the reinvestment.
Im not inclined to add more beyond the DRIP except on significant weakness.
I would probably like a larger position here but not sure on the timing of buying more.
Oh and Im doing the dividend reinvestment via my broker which is different than doing it via SO, I believe.
You cant really have store managers contacting buyers.
if every manager spent 5 minutes a week on the phone with a buyer, that would be 69 hours.
So there has to be some kind of way to divide the stores into 4-8 different segments based on area income or past sales rather than every store getting the same stuff no matter if its in a poorer or a richer area.
They don't need to sell below book value is my point. I would hope they don't price the offering below $2.50 at an absolute minimum. But for it to sell at $2.50, the market price would have to be higher.
Ideally, they sell it at $3.50+.
I am not sure what kind of yield a low priced REIT will command because I don't have a lot of experience with REITS, particularly under $5.
Part of me thinks it will command a premium for being low priced but part of me thinks the market will assume its junk because of its low price and price it at a discount.
I don't know.
Tresfind probably knows but he isn't saying.
They burned $340k last quarter.
Sounds like they will get getting $250k more from a settlement in May.
So the concern is them burning cash before they find a merger.
I would hope they would be able to burn less going forward.
But, it appears our CEO is earning in the $290k a year range and the CFO about $252k.
Both seem to high for me as the company has no business.
I guess the next 10q will be around Aug 15th.
I presume he is being brought on because he may have access to some potential deals.
There really isn't anything to report right now. Ive seen these kind of shells go on for a year or so before finding something to invest in.
The right deal is more important than a quick deal.
Becker Drapkin has a lot invested here. I think we will all make money in the long run.
Nice to see it up to $1.24 today. Was there an SEC filing that I missed ?
And HLF has a marketcap of $6 billion but its a total fraud company.
Neither has anything to do with BH. And its egomaniac ceo.
It does NOT dilute. You gain as much as you lose. We are buying shares at $250 which is below book value so are only diluted if you don't participate or you own say 4 shares which wouldn't entitle you to a right.
We are on the same footing as insiders so its fair to everyone. Except those who do nothing. Or own lots not equally divisible by 5 I guess.
Manhattan Bridge Capital jumps after secondary offering postponed
Shares of Manhattan Bridge Capital (LOAN) are rising significantly in early trading after the company postponed its planned secondary offering of 2.83M shares. The deal, which is being run by Aegis, had been planned for a Thursday night pricing but has been postponed. The offering may come next week, but that is unconfirmed. Shares of Manhattan Bridge Capital are up over 33% to $3.21 in early trading following the postponement.
They are going to make their 9-11% but then they are also looking to make as much as possible off the shares.
All Ran can really do is give them a minimum price in which he would sell and for all we know he told them $2.00.
If they know they can buy for a 9-10% discount from $2, shouldn't they be selling/shorting at $2.40 ?
Similarly, if a boatload is going to be sold for $2 including commission, why buy now ?
What, if anything, was said during the annual meeting ? Stock sure seemed to tank around that time.
If the CEO would resign or this went to a single class structure, the stock would go up 30% right away.
Its not going to happen.
He isn't giving up control no matter how much he is hurting the rest of us.
And I wouldn't rule out some kind of sweetheart deal where he sells his control state for a premium and the rest of us get the shaft.
I have more respect for shoplifters than this CEO.
It doesn't dilute anyone who buys more. And if you don't, you can sell your right and get something out of it.
Last time I even got 1 overallotment share. So someone else did nothing and I benefited.
Anyone who exercises is not diluted. Except to the extent they don't have a lot evenly divisible by 5.
Rights offerings are the most fair way to raise capital.
A below market secondary or private placement would be much more costly and dilutive to current holders.
Still, I don't see the need for a yearly rights offering.
COVERAGE REITERATED: Hercules Offshore (HERO) reiterated by Howard Weil. Reiterated rating Sector Outperform.