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supertramp - DYE does not have a $20 million loan from...

  1. GDelaney
    357 Posts.
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    04/10/11
    20:09
    Post #: 9047946
    supertramp - DYE does not have a $20 million loan from anyone.

    They have a Springtree death spiral facility with a notional face value of $20 millon.

    I am sure ACL could get a Springtree facility too. But chances are - absent the most compelling Fonda performance - ACL would be trading at 20 cents three months later.

    I have written about these facilities before. They amount to a running placement with relentless onmarket selling of the resulting shares.
    ACL Price at posting: 33.0¢ Sentiment: None Disclosure: Held
    Likes Created with Sketch. 10  Upvote
    lightbulb Created with Sketch.  Great analysis
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