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Thread: SIRI Intraday Wednesday 07-01-09

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  2. #92
    bassmaster is offline
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    Joined: Mar 2009 Posts: 1,216
    Quote Originally Posted by bassmaster View Post
    starting january 31, 2010 - he can exercise a lot(not sure of the exact amount) of options. so lets say the price is $1.00 , he can buy stock from SIRI directly at $.43.. that will make an unrealized profit of $.57 for each share..

    read tylers article on the news page, may help clarify.
    my mistake here....first set of options vest on december 31, 2010 , 2nd is december 31, 2011, 3rd is june 30, 2012 and the last is december 31, 2012...

    they are equal installments, meaning he will have the right to purchase 30MM shares at .43 each time they vest on those dates. BIG PAY DAY IMO , definitely golden parachute, but im not hating, if he can get the price up, great, i dont care if he makes a billion , i care about my own investment....

    p.s. if theres a R/S , the options will reflect that as well. EXample , he wont get 120MM shares if theres a 1 for 50 exchange. he'll have 2.4MM shares at a strike price of $21.50...i think the math is right, long day, anyways GN and GL...

  3. #93
    stacyl14 is offline
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    Joined: Oct 2008 Location: Southwest GA Posts: 9

    Smile SEC Filing June 30, 2009

    Just received an email alert on this and thought that I would share.

    SEC Filing Form 8-K

    Item 1.01 Entry into a Material Definitive Agreement
    On June 30, 2009, XM Satellite Radio Inc. (“XM”), a wholly-owned subsidiary of XM Satellite Radio Holdings Inc. (“Holdings”), issued $525.75 million aggregate principal amount of 11.25% Senior Secured Notes due 2013 (the “Notes”). XM used the net proceeds from the sale of the Notes to terminate and repay in full the Amended and Restated Credit Agreement, dated as of March 6, 2009, among XM, Holdings, certain subsidiary guarantors, the lenders party thereto and JPMorgan Chase Bank, N.A., as Administrative Agent (the “First-Lien Credit Agreement”). XM paid a repayment premium of $6.5 million on the $325 million aggregate principal amount of loans outstanding under the First-Lien Credit Agreement. The remainder of the net proceeds from the sale of the Notes will be used to refinance or repay other debt of XM and Holdings and for general corporate purposes.

    Here is a Link:

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