Agreed that "perspective" is king.
But I'm not so sure that it will work out to 10-15% dilution.
If NHC goes gangbusters and returns a 20c div each year till 2026 (quite possible given the coal futures), then the notes could be converted at about $1.10 per share, making it 181m new shares.
That's about 22% dilution. Real black hat thinking, I know.
I have had experience with the SOL group going back to the mid-80's in the days of IEL, Adsteam etc. Some good, some not so.
On one hand, I admire them for their performance from a rag-tag group of mid-quality assets, yet occasionally the line is crossed and the losers are inevitably the non-family shareholders. On more than one occasion, I have promised never to go near, again. An entry price of $1.16 into NHC was too tempting.
My fear is that the sheer complexity of this whole deal masks the underlying intention. I hope I'm wrong.
But hope is not a viable investment strategy.
When my price target is reached, I'm out, thanks.
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Open | High | Low | Value | Volume |
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No. | Vol. | Price($) |
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8 | 34907 | $4.82 |
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Price($) | Vol. | No. |
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35 | 43253 | 4.810 |
18 | 46369 | 4.800 |
15 | 51640 | 4.790 |
17 | 123254 | 4.780 |
Price($) | Vol. | No. |
---|---|---|
4.830 | 43123 | 44 |
4.840 | 29270 | 14 |
4.850 | 35532 | 10 |
4.860 | 42084 | 10 |
4.870 | 20461 | 8 |
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