Originally Posted by homer985
Requires full disclosure of material information to all investors at the same time. I'm surprised no one is picking up on this... Sirius telegraphed pretty clearly what is going on here. Read this statement again...
"The company is in discussions with several financial institutions regarding a financing to replace its 2-1/2% Convertible Notes due 2009. In connection with these discussions, the company is releasing the material elements of its five-year operational and financial forecast."
If the company is in discussions with a lendor who is also an equity investor, and they request Sirius' 5-year projections on estimates -- then be law (REG FD) they must release this information to all investors at the same time.
So there is your answer... one of the investors Sirius is in discussion with is already an investor, so they had to make this filing public. And now that it is complete, they can presumably complete the negotiation to refinance the debt -- assuming the lendor is still interested.
I still believe that this $250 million outstanding will be refinanced.
REG FD is the key here... no one picked up on it.
Newbie here again! Could this help substantiate a "Morgan Stanley" type theory?? Sure would be nice if there was a way to find out if MS is acquiring shares at this low sp! Perhaps it is MS that is manipulating - just wondering!
Thanks for everyones help on this board!!!