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Altaba Inc. (AABA)

NasdaqGS - NasdaqGS Real Time Price. Currency in USD
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19.630.00 (0.00%)
At close: 4:00PM EDT
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  • p
    peb1
    OK, just to break the long silence here, let me try this one.
    Just for the hellluvit, I went to my broker and put in an online market order to sell 1 sh of AABA (AABAESC ALTABA INC COMMON STOCK ESCROW CUSIP).
    When I hit the "preview order" button, I got this msg:

    "Orders for this security cannot be accepted online at this time. For assistance with placing this order, please call Customer Service at 1-800-............"

    I wanted to ask: If the the order can't be accepted "online", is there any other way that the order can be taken.
    I'll try again later today.
    Anyone else have seen this from their broker?

    I called them but I was waiting too long to get someone on the line so I didn't take it any further.
  • p
    peb1
    See Dub: "Is there a date (or range of dates) mentioned for the post-dissolution distribution?"

    I'll just re-post this excerpt from page 8 of the filing:
    https://www.altaba.com/node/41791/html#toc928563_7

    "On August 20, 2020, the Fund filed with the Chancery Court a Motion for an Interim Order Approving Interim Holdbacks and Permitting Certain Distributions to Stockholders (the “Interim Order Motion”). In the Interim Order Motion, the Fund requested that the Chancery Court establish an initial conservative aggregate amount of security of $7.347 billion, which if approved would allow the Fund to distribute up to $5.155 billion to stockholders. It is not typical for such an Interim Order to be requested in proceedings of this kind. There can be no assurance that the Chancery Court will approve the Interim Order, that the Chancery Court will authorize the aggregate security amount proposed by the Fund in the Interim Order Motion, that the distribution of excess assets based on the Interim Order will occur or, if approved, when any such distribution will occur."

    It's that "$5.155 billion which, if distributed to the 519,511,366 o/s shs, would amount to $9.92 per sh (ball-parked by me as $10).
    When?? Aye; there's the rub!!!
    SEC Filing | Altaba Inc.
    www.altaba.com
  • j
    john
    Just got the semi annual report. Shows NAV per share at $23.91
  • p
    peb1
    When it comes to AABA's NAV ($23.91 as posted in the 6 month report) E*trade is now showing my investment with remaining cost basis of $15.25 after the pre-dissolution distribution.
    But they're showing the "value" as $22.40 (the last "traded" price).
    So according to E*Trade a share gain of $7.15.
    But with the 6/30 NAV of $23.91 the gain would be $8.65.
    As I stated earlier, now with a NAV of $23.91 and with liabilities pretty well discussed (if not settled), I can see the possibility of an initial POST-dissolution distribution of perhaps $10 (all profit for me). Give me that now and I'll worry about the other $13.91 later.

    Reply
  • P
    Peter
    You would think some ARB out there would want to buy my shares. Oops, the shares don't exist. I would offer a promissory note ...
  • S
    Stephen
    My e-trade account mysteriously increased overnight by, roughly, $22 for each of the 323 shares of AABA escrow that are still in my portfolio (but e-trade is still showing them at $0). Hoping this is a good sign? Anyone else see something similar this morning?
  • A
    Allen
    AABA - just came out with information this morning (9-2-2020) -
  • J
    John
    yes we need to see semi annual report along with date and amount of next distribution
  • p
    peb1
    Final thoughts:
    From 12/31 to 6/30
    Cash went from $4,000.00 to ZERO (or else it's included in "other assets"
    Total Assets hardly changed (right around $13bill)
    Here's a surprise: total taxes went down from around $600mill to about $171.5mill

    But the bottom line is that the NAV per sh hardly changed. From $23.21 up to $23.91 (B-F-D huh?)

    So what it all boils down to is resolution from the courts & tax authorities about contested tax liabilities.
    As I said earlier if it comes down to a first POST-dissolution distribution of about 10 bucks; bring it on. I'll let my heirs worry about the left-overs. They'd be surprised and happy as hell to get anything.

    That's it; FINITO!!!!!
  • T
    Tony
    My account showed $21.35 per share w Schwab. could this be second allocation and final?
  • p
    peb1
    OK, first thing:
    NAV per share $ 23.91
  • p
    peb1
    It seems Yahoo has just ended any possibility of posting on the AABA msg board. When you type "AABA" into the "Quote Lookup" box here's what you get (not the AABA msg board):
    https://finance.yahoo.com/lookup?s=AABA

    The only reference to AABA is this line:
    AABA AABA N/A Financial Services Stocks NMS

    That "NMS" stands for National Market System. Does anyone have any idea as to what that is?
    So the AABA msg board is down and I can only hope the semi-annual report (now a "bit" over-due) will be out next week and the AABA shareholders who have held in lock-down since early 2020 will finally get some kind of information.

    H ere; try it:
    https://finance.yahoo.com/lookup?s=AABA
  • p
    peb1
    OK; I did it myself.
    From page 20, note #13:
    "The Fund cannot assure stockholders of the timing or amount of any post-dissolution liquidating distribution following entry of the Court Orders."

    But then, further down on page 21 is this comment:
    "On August 20, 2020, the Fund filed the Interim Order Motion with the Chancery Court. In the Interim Order Motion, the Fund requested that the Chancery Court establish an initial conservative aggregate amount of security of $7.347 billion, >>>>>which if approved would allow the Fund to distribute up to $5.155 billion to stockholders.<<<< It is not typical for such an Interim Order to be requested in proceedings of this kind. There can be no assurance that the Chancery Court will approve the Interim Order, that the Chancery Court will authorize the aggregate security amount proposed by the Fund in the Interim Order Motion, that the distribution of excess assets based on the Interim Order will occur or, if approved, when any such distribution will occur."

    So if that request was granted,that would amount to a distribution of approximately $9.23 per sh.
    ($5.155bill / 519,511,366 shs).
    If it can be done, bring it on. I'll let my heirs worry about when the next or final distribution might be made.
    Any real legal beagles out there that would like to make worthwhile comments?
  • p
    peb1
    Well; whatever was wrong with this board yesterday seems to have been cleared up. Come on mgmt; let's see that semi-annual report.
  • p
    peb1
    I've been saying that the 6 month report was now due, but I've done some checking and I have to correct myself. Here's what was shown at the top of last years's report:

    Form N-CSRS Altaba Inc.
    Certified Shareholder Report, Semi-Annual
    SEC.report ALTABA INC. Form N-CSRS (Filer)
    Published: 2019-08-23 16:05:58
    Submitted: 2019-08-23
    Period Ending In: 2019-06-30

    So I guess that leaves another week to be waiting for something.
  • p
    peb1
    OK, what I'll be looking for (I don't have time for it now) will be any comments about when the first POST-dissolution payment may be made. If someone could find and save me the trouble of reading thru most of that garbage, it would be appreciated.
  • A
    Adam Smith
    AABA account w Fidelity shows thousands of gains first tim TodaySomething going on??
  • p
    peb1
    N-CSRS
    www.sec.gov
  • b
    b
    Any one know the latest ratio? Thanks
  • p
    peb1
    My apologies to all:

    I had gone to the SEC website to see if Altaba had yet filed the 6 month report.
    I typed the word "Altaba" on this page:
    https://www.sec.gov/cgi-bin/browse-edgar?company=altaba&match=&filenum=&State=&Country=&SIC=&myowner=exclude&action=getcompany
    It showed this:
    0001011006 ALTABA INC. NY
    0001636286 Altabancorp

    What I didn't see was this near the top: " Companies with names "matching" ALTABA"
    Sorry bout dat!!!! (so we're still waiting for that 6 month report)
    EDGAR Search Results
    www.sec.gov