I'm wondering why they are doing this in such snmall dribs and drabs. Anybody ?
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I'm wondering why they are doing this in such snmall dribs and drabs. Anybody ?
Whats is the Difference on the amount of Debt exchange..Its still shaping up and indicating interest in the company...They are almost half way there..This has go to be a good thing.....
I have no information, but only thoughts:
The existing lender seems to be buying these shares, so perhaps it is they who are deciding how much they want to buy. Perhaps Sirius XM is trying to lessen the effect of share dilution by floating shares in relatively small amounts.
I find it is interesting that the last couple of these relatively small stock issuances have each been at a price above the current trading price. Perhaps there is some legal reason for this.
I also find it interesting that the current lender would be interested in obtaining stock instead of cash that is owed to them. Perhaps these are agreed upon actions as part of a deal for future financing?
I don't think most people see an extension as refinancing.
Yes, in my mind "refinance" means replaced by new debt or equity... "extending" the expiration is not a refinance -- but more of a continued financing.
On Jan 14th, they exchanged 100M shares for 13M, but now what ?
Stock has since dropped to .11 cents.
I guess they have to pony up about 150M from cash reserves unless they reneg with MLB to get access to the 120M.
Are they going to exchange 1 billion shares at .10 next to knock Feb down to 75 million, then use cash ?
Any hope here Homer ?