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Thread: Hartleib Question

  1. #11
    Brett1965 is offline
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    Joined: Jul 2008 Posts: 6
    It sounds like they are raising more cash. There's your 400 million you were looking for.

  2. #12
    crfceo is offline
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    Joined: Apr 2008 Posts: 205
    according to bloomberg, there is a 650 million dollar secondary on top of that...


    http://www.bloomberg.com/apps/news?p...d=aysdu15uz3AI

  3. #13
    hartleib1 is offline
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    Joined: Mar 2008 Posts: 135
    according to bloomberg, there is a 650 million dollar secondary on top of that...

    crfceo called this over a week ago on our phone call. 4.6 shares is out the window now . It has to be.

  4. #14
    zcurzan is offline
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    Joined: Jun 2008 Posts: 404
    Don't you think that would noted in some sort of journalistic fashion?

    "XM is issuing financing in the amount of. This will change the terms of the buyout agreement between their rival Sirius Satellite...."

    If you owe me 5 dollars, and you don't have it. But I really want to buy a expensive pack of chewing gum. So you go to your friend and borrow 5 from him to pay me off. Are you still 5 dollars in debt?

  5. #15
    hartleib1 is offline
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    It is to the cost of the debt from 9.5 % to 15% big cost in servicing the the money borrowed.

  6. #16
    crfceo is offline
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    I'm figuring that's about a 5.8 share dilution on todays transactions..

  7. #17
    john is offline
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    Joined: May 2008 Posts: 2,836
    I will say this one more time the radio is the ratio, it will not change to a great degree. The debt is and was the debt that it was, if SIRI does not like the terms of the XMSR dept then they can feel free to finance it themselves. They are after all, the ones that are buying XMSR and suppose to come up with the financing for it. Who here thought that the financial firms hired to look into this, before the merger agreement somehow missed this? I am as positive as one can be that they knew full well this debt was going to have to be refinanced and that both companies credit stunk to high heavens and that there was a credit crunch going on at the time. Let common sense take its course and you will find I am right.

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