Pre-Market
Last: $ .15 Pre-Market
High: $ .20
Pre-Market
Volume: 332,300 Pre-Market
Low: $ .13
Pre-Market
Time (ET) Pre-Market
Price Pre-Market
Share Volume
07:26 $ .15 100
07:26 $ .15 1,900
07:26 $ .15 8,100
07:26 $ .15 10,000
07:26 $ .15 6,900
07:26 $ .16 10,000
07:24 $ .139 5,000
07:24 $ .14 31,200
Zero news price increase. I love the anticipation.
Ahhhhhhhhhhh I can't sleep, I woke up at 4am pacific time!
Good luck to everyone today!!!
Nice work last night Tripp,
Cable and internet service are down in my area this morning. I have just found a starbucks with internet service. Any news yet.
....I know that I am a pathetic soul.
Dunno what it all means but here's a link:
2/17 SEC filing. Prospectus addendum.
If I see the premarket share price at .15 or so, is it a complete waste of time to submit an on line limit order at the previous closing price from last Friday (.1040)?
Thanks
Its offical...Done deal.......We got action!
Sirius XM Radio Inc SIRI:NASDAQ
SIRIUS XM Radio and Liberty Media Reach Agreement for Investment
PR Newswire
7:57 AM ET
Liberty Makes Loan to SIRIUS XM to Repay 2 1/2% Convertible Notes due February 17, 2009
Agreement Provides for Additional Loan
Liberty to Acquire SIRIUS XM Preferred Stock and Board Representation in Connection with Investments
NEW YORK and ENGLEWOOD, Colo., Feb. 17 /PRNewswire-FirstCall/ -- SIRIUS XM Radio Inc. (Nasdaq: SIRI) and Liberty Media Corporation (Nasdaq: LINTA, LINTB, LCAPA, LCAPB, LMDIA, LMDIB) today announced that they have entered into agreements pursuant to which Liberty will invest an aggregate of $530 million in the form of loans to SIRIUS XM and its subsidiaries and receive an equity interest in SIRIUS XM.
(Logo: http://www.newscom.com/cgi-bin/prnh/...19/NYTU044LOGO )
Under the terms of the agreements, the investments will be funded in two separate phases.
-- The first pha se includes a $280 million senior secured loan from Liberty to SIRIUS XM, $250 million of which will be funded today. The proceeds of that loan will be used by SIRIUS XM to repay $171.6 million of its maturing 2 1/2% Convertible Notes due February 17, 2009, and the balance will be used for general corporate purposes, including working capital and transaction costs. The loan will bear interest at a rate of 15%, mature in December 2012, and be secured by the assets securing SIRIUS XM's existing term credit agreement. -- The second phase provides an additional loan of $150 million to XM Satellite Radio, SIRIUS XM's wholly owned subsidiary. Liberty has also agreed to offer to purchase up to $100 million of the loans outstanding under XM Satellite Radio's existing credit facilities from the lenders. Upon completion of the second phase of the Liberty investments, SIRI US XM will issue Liberty an aggregate of 12.5 million shares of preferred stock convertible into 40% of the common stock of SIRIUS XM. In addition, Liberty will receive seats on the SIRIUS XM Board of Directors proportionate to its equity ownership. It is expected that John Malone and Greg Maffei will join the SIRIUS XM Board of Directors. Liberty's obligation to consummate the second phase of its investment is subject to various closing conditions.
Mel Karmazin, Chief Executive Officer of SIRIUS XM Radio, said, "We are pleased to have come to this agreement with Liberty Media, particularly in light of today's challenging credit markets. Liberty's investment is an important validation of what SIRIUS XM has already achieved and a vote of confidence in what we will achieve. This agree ment enables Sirius XM to continue to develop the opportunities first outlined in the merger of Sirius and XM. By strengthening our capital structure and enhancing our financial flexibility, this investment allows us to continue providing the great content and innovative programming our subscribers know and love."
"We are excited to be investing in SIRIUS XM. We have been impressed with the company, its operations and management team," said Greg Maffei, president and CEO of Liberty. "SIRIUS XM's ability to grow subscribers and revenue in a difficult financial and auto market is indicative of how listeners view this as a "must have" service."
The agreements, and the transactions contemplated by the agreements, do not constitute a change in control for SIRIUS XM under its outstanding debt instruments and are not subject to the approval of the Federal Communications Commission. The receipt by Liberty of voting stock is subject to expiration of the applicable waiting period under the Hart-Scott-Rodino Act.
Important details of the agreements relating to this investment will be available on a Current Report on Form 8-K which SIRIUS XM expects to file with the Securities and Exchange Commission.
L iberty has advised that its investment will be attributed to the Liberty Capital group and is not expected to affect the timing of the previously announced split-off of a portion of Liberty Entertainment.
Pre-Market Trade Reporting
Pre-Market Charts | After Hours Charts Pre-Market
Last: $ .23 Pre-Market
High: $ .25
Pre-Market
Volume: 4,561,789 Pre-Market
Low: $ .13
Ok well, deal is done which by itself is great news. Now lets see where this puppy is headed.
Price closed at .1040 on Friday, it was sitting at .15 cents 20 minutes ago now hovering between .19 & .228 cents...
Interesting...
I sure picked a helluva 1st stock to follow, lol...
Good luck to everyone today, you more serious folks deserve a good result...
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