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Thread: Sirius just reported another 65 million shares to be issued against the Feb notes

  1. #11
    demonotaku is offline
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    Well think about this, if he did that, we would be more in the market around what Worldspace is

  2. #12
    sxminvestor is offline
    Quote Originally Posted by demonotaku View Post
    Well think about this, if he did that, we would be more in the market around what Worldspace is
    No way - they would be in better shape in my opinion.

    You would not have the Feb convertible overhang and you would not be diluting nearly as many shares as they will by the time this is over with.

    Unless I'm missing something ?

  3. #13
    Whynot is offline
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    Unsure

    Hey folks,

    I am not, nor do I claim to be an expert in this matter, so this post is more of a question than a statement.

    Isn't this a great sign for SIRI? If not, why? In my admittedly under-educated opinion, the less of this debt that we have to pay off in Feb 2009, ( I say we because we ALL own this company), the better right? If we can show the cash is there, even in bits and pieces, won't it be easier to refinance what debt is left over and with more favorable rates? Also-Isn't this a crystal clear indicator that the we won't be even pondering BK......the only thing that could wipe us all out? After all, a company that is even partially considering BK protection would be out of their minds to fork over this kind of cash at this stage, wouldn't they??

    If some of our more tenured or more educated forum members could provide some clarity or guidance, I would sincerely appreciate it.

    SIRI LONG AND STRONG!
    Whynot

  4. #14
    Keysmark is offline
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    Quote Originally Posted by Whynot View Post
    After all, a company that is even partially considering BK protection would be out of their minds to fork over this kind of cash at this stage, wouldn't they??
    Let me preface my comments by saying that I am no more of an expert than you.

    You could look at it the other way. First, the company is not forking over cash; they are giving shares.

    People have asked why would he and the previous bondholder do this. Well, maybe they think the company will go BK. In this case, by taking shares of stock and immediately selling them, they get their investment out. On the other hand, if the company does go BK before Feb., and asks for protection from their creditors, it will be a long time before they get their money.

    I repeat. I am not an expert. This is just conjecture off the top of my head. I look forward to being corrected if I am wrong.

    Keysmark (very long)

  5. #15
    GetItStraight is offline
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    As many of you have noted already there are positives and negatives to this however, in my opinion the positives slightly outweigh the negatives. Now to really determine if this ends up being good for us shareholders in the end is dependent upon what happens with the share price in the next 30-60 days. We need stability in sp with a slow steady move upwards. Any spikes in SP will probably trigger a sell order. IMO

  6. #16
    Demian is offline
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    I still suspect that these last 2 small exchanges of stock for debt are part of a bigger deal that will be announced on the Q3 conference call...

    There is no way that they would buy it all back with stock. I bet it will be partial cash, partial stock, and partial bank loan when all is said and done...

    Where is it disclosed who the exchanges were with? Does anyone know?

  7. #17
    GetItStraight is offline
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    Demian,

    It's kind of a chore but the only way I'm familiar with is to go to EdgarOnline or Hoover's or Yahoo Finance and look through all of their filings to find out who did the original transaction with them with the corresponding due date. The original holder can sell to someone else so it's not a sure thing. Look specifically through the 8K's. They will more than likely have the info.

    Other than that I don't know of a quicker and easier way to do this for free. Some subscription services are a little better but cost $.

  8. #18
    Demian is offline
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    Wouldn't IR disclose that info? It would help to know who those exchanges of stock for debt were with. Goldman? I still suspect that these last two exchanges are part of a bigger deal and the identity of who those exchanges were with might help piece this together...

  9. #19
    steve3947 is offline
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    Joined: Oct 2008 Posts: 24
    You think you are upset now. If a RS happens, we all will feel worse than we did when it went form 2's to below 1.00. A RS will put a nail on the coffin for our hopes. I personally am trying to hope for the best and prepare for the worse. As I want to double my shares at these levels, I feel that we have not seen the lows yet. If this stock goes into the teens, it will be short lived and perhaps a great time to acquire as many shares as you can. Better odds than a lottery ticket.

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