I honestly think that a 1 for 6 cap raising at 2.50 would have cleared all financial problems and actually been good for the share price when the dust had settled and they would have still had the backstop of being able to sell data centers if needed later on. Until ASC is paid for the amount of debt will be a major drag on the stock. The CFO can say what he wants about their bankers but when the banks ask for a debt reduction the CFO will jump to their tune as the bankers now control Vocus and not the other way round.
VOC Price at posting:
$2.56 Sentiment: None Disclosure: Held