As of Nov. 8, 2013 the pps closed today @ $11.10. The discount to the Carlyle & Oak Hill buy-in price of $16 still exists and currently sits at an attractive 31%.
In case someone is wondering why Carlyle and Oak Hill don't buy more shares at a significant discount to average down their costs the answer is they simply cannot buy more shares. why not? Because they currently own 49.8% of the company. If they buy more and exceed 50% ownership the company would have a change in ownership event... and thereby lose significant and valuable NOLCF's.
Investing requires continuous learning, even though the underlying concepts (buy-low-sell-high, margin of safety, etc.) never change.
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