The gross mismanagement and self dealing is beyond sickening. He has done this with CKXE, its realestate division and now destroyed shareholders in SFXE who bought at $13 IPO two years ago.
or he pulls the deal and instead raises $10 million at $1.50
so a week later he can abandone the merger agreement so the stock gets crushed? Not likeley..the huge disconnect makes little sense. I can see him lower the takeout price to $4.25 ish but $ below 43 seems crazy
The very low relative stock price then will make any further equity raise extremely dilutive and may mean the end of the company as we know it.
In theiur press relesae say the acquisition is going as planned and will be finalized sometime in 4th quarter just three days before sillerman has to demonstrate his financial backing for the deal. It would be Fraud to issue that statement and then just three days later change the landscape.
they have 52 million in cash and a line of credit plus this q they will generate a ton of cash....stay short
its not ideal as in no debt....but the cost savings that will come out in year two are enough to pay interest costs alone
The way overspent on SGA last year and have huge potential to cut costs as they consolidate the promotions companies they acquired. The debt is not a problem..the deal will get done
If they do half that the stock is cheap
He needs $341 million to take company private. At one point there was estimates of $65 million in Ebitda
concert promotions/live events companies burn cash at first but then EBITDA takes off in the later years....
They are very good value managers. Filed on Friday.
Stock is way too cheap..turnaround will double stock
With all the dumb analysts coming out with downgrades after a 50% fall....its time to buy...turnarounds take a while and this company has over 100years of operating history and a great base to work from....50% short float should help...buyout could be sweet as well...
The shorts are active in the name and will try to really crush the stock tomorrow....At 1x revenues the stock is cheap with huge growth in the next few years....buy any weakness ...
Huge value here....
Cut executive pay and grow EBITDA by 15%
They pay themselves outlandish salaries while the digital age passes them by.....They are thieves...
new lows every day chart followers but valuation vs assets....buy