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looks like we are building a solid base here
I'm happy. So far so good..
this stock is looking strong here...I'm thinking we will see a solid week ahead
Are you watching this . Breakout to $2.90
$2.90 - $SHOSR 2.65 high of the day so far
where do you see this going this week?
$SHOSR I.P.O. Complete Prospectus Sept 6th 2012
http]://www.searsholdings.com/invest/docs/Sears_Hometown_and_Outlet_Stores_Inc_424_b_Prospectus.pdf
$SHOSR Sears Hometown & Outlet Stores Site ..
http://www.searsoutlet.com/
$SHOSR IPO "The new company, Sears Hometown and Outlet Stores Inc., will be traded on the Nasdaq under the ticker symbol SHOS. Sears Holdings Corp. will continue to be listed as SHLD.
The public offering to spin off the more than 1,100 Hometown and 122 Outlet stores should raise roughly $446.5 million for the Hoffman Estates-based retailer and is expected to be completed in the third quarter.
Beginning Sept. 7, stockholders will receive one transferable subscription right for each share of Sears Holdings common stock. Shares that are unvested by the close of business on Sept. 7, will receive a cash ward in lieu of subscription rights, the company said in a statement. The date of the distribution of the subscription rights is expected to be set by the board before Sept. 7, the company said.
That gives Chairman Edward Lampert, who owns roughly 62 percent of Sears Holdings, parent of Sears and Kmart stores, a stake of at least that much in the new company, according to regulatory filings. Under certain circumstances, Lampert may own 58 percent of the new company if the subscription rights are exercised in full, but will have an option to increase his stake by purchasing more subscription rights or Sears Hometown and Outlet stores shares.
Shareholders who exercise their subscription rights may also make a request to purchase additional shares of Sears Hometown common stock. If the subscription rights are exercised in full, Sears Holdings will cease to have any ownership interest in Sears Hometown.
As part of the transaction, Sears Hometown expects to enter into an asset-based senior secured revolving credit facility with a group of financial institutions to provide $250 million. Sears Hometown expects to draw $100 million under this facility to pay a cash dividend to Sears holdings before its separation, the company said.
Hometown stores are small hardware stores, usually operated by independent retailers. Outlet stores, which thrived during the recession, sell Sears merchandise at a discount. Sears announced its intention to spin off the stores in late February.
Sears shares have climbed $25.62, or 80 percent, this year.
Chicago Tribune article on SHOSR ~ I have found various bits and pieces about this IPO. I guess the original pricing was to be @ $12 per share. So they must have adjusted the share count..
This article has some decent stuff. More to come ,
Will update on the Manic Blog as well.
http://www.chicagotribune.com/business/breaking/chi-sears-spinoff-20120829,0,7192956.story?track=rss
They are definitely selling shares. That is what an IPO is for.. I do like that there appears to be no shortage of takers @ the 2.30 area . Agreed play it safe .
Also consider that the markets could dip .
They are artificially high right imop.
If SHOSR can strong in the headwinds of a couple of down market days I will be feeling pretty good .
I agree they do not want to let it out of this 2.53-2.55 range right now. Definitely needs to be played safe until we know more.
Not a bad start today. Looks like some mm's are trying to keep it down. It reached 2.90 so easily yesterday.. I think we're good but play safe until we know exactly what is up with this. http://manicpennystocks.com/?p=240
It seems to be very thin here this morning and looking to move upward
Exactly . The pre-mkt and early intraday momentum was very strong so In and out then take a breath and see where this is going.
I haven't found the prospectus and Yahoo finance has yet to update key stats ..
If the share structure is right this may turn into a decent play .
I'm definitely on board with you in regards to a quick in and out and making a nice gain. Looks like it was developing a nice support around 2.25 and hopefully moves upward tomorrow for some solid green!
Here is the update and chart for $SHOSR & your right it does look interesting at last for a quick in and out with some respectable gains..
Agreed manic pennies has made some good small cap calls and I am glad that the site is expanding.
"09/13 Trading Idea is SHOSR"
http://manicpennystocks.com/?p=240
looks interesting here and manic penny has sent out alerts on it-they have a very good track record with respect to plays.
Blog post alerts on SHOSR.
http://manicpennystocks.com/?p=42
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PROSPECTUS
Sears Hometown and Outlet Stores, Inc.
Trading Begins Sept 7th 2012
Up To 23,100,000 Shares of Common Stock Issuable Upon the Exercise of Subscription Rights At
$15.00 Per Share
Subscription Rights to Purchase Shares of Common Stock
This prospectus is being furnished to you as a holder of common stock of Sears Holdings Corporation, or "Sears Holdings," in
connection with the planned distribution by Sears Holdings to each holder of its common stock as of the close of business on September 7,
2012, or the "record date," at no charge, transferable subscription rights, or the "subscription rights," to purchase up to an aggregate of
23,100,000 shares of common stock, par value $0.01 per share, of Sears Hometown and Outlet Stores, Inc., or "SHO," at a price of $15.00
per whole share, or the "rights offering." Sears Holdings will distribute to each holder of its common stock as of the record date one
subscription right for each full common share owned by that stockholder as of the record date, except that holders of Sears Holdings'
restricted stock that is unvested as of the record date will receive cash awards in lieu of subscription rights. Each subscription right will
entitle its holder to purchase from Sears Holdings 0.218091 of a share of SHO common stock. Additionally, holders of subscription rights
who fully exercise all of their basic subscription rights, after giving effect to any purchases or sales of subscription rights by them prior to
such exercise, may also make a request to purchase additional shares of SHO common stock, through exercise of the over-subscription
privilege, although we cannot assure you that any over-subscriptions will be filled.
The subscription rights will expire if they are not exercised by 5:00 p.m., New York City time, on October 8, 2012. Immediately prior
to the closing of the rights offering, Sears Holdings will hold all of SHO's common stock. As a result of the rights offering, Sears Holdings
will dispose of up to all of its shares of SHO common stock and SHO will become a publicly traded company independent from Sears
Holdings, or the "separation." In connection with the separation, we have entered into various agreements with Sears Holdings which,
among other things, (1) govern the principal transactions relating to this offering and aspects of our relationship with Sears Holdings
following the separation, (2) establish terms under which subsidiaries of Sears Holdings will provide us with services following the
separation and (3) establish terms pursuant to which subsidiaries of Sears Holdings will obtain merchandise for us, collectively, the
"separation transactions."
COMPLETE PROSPECTUS
http://www.searsholdings.com/invest/docs/Sears_Hometown_and_Outlet_Stores_Inc_424_b_Prospectus.pdf
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