choices could start with...
Have enough shares sold after the split to help
normalize the earnings number?
When will the mulling around slow down?
Swing trades must be loving this one.
Ma and V both lowered swipe fees for Canada,
will it have much impact?
As they stated, it's valued at 1.1B by itself, all bonds, no assets.
psec valued at 6.5B with the spin still inside. Would the price be
a ratio between the 2 values? $1.40 But it will still be like owning
a set of bonds, but with high manage fees. Take the 1.1B away,
and psec will be 5.4B for a little while, but hopefully grow with
AND THIS IS ONLY THE FIRST OF THREE SPINS ?! I can't bare
to think what the next one will be like. sidelines.
In general, true. However understand that as a BDC, you already own it. They're splitting it off
and asking you to buy most of it again. The rights are a discount to the value being split. We get
the rights, not the full value of our investment.
Whoa, you got something wrong here. The shareholders get the rights for free as holders.
The rights are valued at a discount to the actual shares of PLYD. So far, the rights will be
an equal percentage, by amount, to the existing and offering shares of psec and plyd.
The rights can be traded, if the scenario flies, on plydr if you've submitted your cert. of
rights holdings that you're supposed to get from psec. Of course there will be dilution,
the same amount of psec shares out for less total holding at the offering. They will reinvest
the money to bring it back. Value set at 1.1b. vs. psec at 6.5b now. soooo. 5.4b at change.
It's a dividend because you already own it, they may change it to a distribution, but still taxed.
Wow, memories, I remember a story about yertle the turtle.
Anyway, agreed. People are still going but maybe not so much for the
less headlining flics. I'm curious as to the earnings est. being so low.
Was a good quarter compared to last year gross flics. from mojo.
So far, they will set a nasdaq listed pyldr for the rights to trade. Personally I don't like it.
Get the rights, deal with the documents and the "turn in process", pay fees for the trades,
if kept- put money into a CLO that shows NO assets. Good for psec to get rid of it and
turn it to cash for less risky investments. I believe the pps for psec will go down at least
the amount of the rights initially. I'm in psec for psec's future, not a CLO. I'll sell prior and
pick them up again lower, I hope.
Even Kramer would "gibbs slap" D. bank for saying they lowered the yearly EPS to 2.60 from
10.30 something. LOL when did anyone ever put that number up. kinda obvious what they were doin'.
The recent past, Fitch lowered several BDCs to BBB from BB.
BB being investment grade, BBB being first step junk. The more
the letters, the lower the grade.
Well, you're not alone. It did well on it's opening.
Timing wasn't well thought out. End of quarter.
Next weekend would have been better. They need
385M gross to break even. That way they may have
been able to break the writedown trend. unfortunate.
And either way we have to pay a fee for the choice. A question for you!!
What happens if they do get pyldr up and trading the rights and they don't
sell the necessary 75.1% of stock, which would close the offering. Do all
the rights tradings reverse? I know the fees wouldn't.
He's not the only CEO to play the market for fools.
Actually he has the basis facts right, but jumped in a negative almost paranoid barrel.
Throwing out the clo portfolio is a good thing for psec. It's notes, not assets, value is
questionable. They made their money, get rid of the risk. Captive investors don't see
the risks, they follow the leader, is what I think he's saying. An offer to buy cheap, got
their attention. and it pays dividends! How will the analysts see it? It has to sell 75.1%
to go thru or it stops and the rights should market on plydr says the n-2. And he's right
about the tax thing, gotta do something.
As in it's a draft, not finalized, it DID spell out a ratio...the % of total psec shares will equal
the % of total pyld shares. And they have applied for a symbol, pyldr, for the rights to trade.
That's important as the rights will be treated as a distribution/dividend at year end valued
partially on psec's earnings/profit. Interesting that officers and affiliates of psec MAY not be
able to get rights. Seeing it's a CLO, it's a rough call, being mostly notes, not assets.
Think of them as "options". They're called warrants, which I haven't heard anyone else mention,
which were in the N-2 with the rights. They're offered at a discount to the public price. They should
be given as a percentage of psec shares held. How and when, don't know.
looked it up. paid 33.5 for it, sold 25% to hearst for 80 with usage of their highways.
Add 6% for fox and that's 69% before costs. hmmm. What gets me is that all these articles
about saving money seem wrong. Glendale probably cost 40. that's taxes under 200K year.
Now they have 1.3M to start per year going up 1.5% yearly and less assets.
They have 6 flics in the works after home, so he trims staff and grabs $$$.
Looks like China needs more $$$.
Of course starting a theme park is a nightmare every which way.
2 things caught my attention... The volume up then down...
was 700K shorts before the climb to 8.50, adding maybe 3M of the 7 M traded,then as you said 24M traded down with 3 M sub $7. Seems like a buy down to me. Also, the nu CEO isn't listed as
an insider holder as of the last listing. Maybe he bought?
Of course this "Lenny" thing seems to ring right also.