Yep, really annoyed. GXY should know better, but they just are splashing the cash around like they won the lottery. They would have been better to try and buy the debt of Tribeca instead of worthless equity if they wanted the assets at Bald Hill.
If there's a CR, subscribing for more shares is pointless. Why would I subscribe to be exposer for more debt where if I just said to Tribeca, here's your cash, we'll take the debt, I just bought out the control of A40 by owning it's debt. I could have saved $20m... which was recklessly spent for no purpose...
A40 Price at posting:
8.2¢ Sentiment: None Disclosure: Not Held
