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AC Outstanding Shares common 3,466,245
not counting any preferred shares that might get a dividend...
so about 14 1/2 MGHL for every AC share or a $1.40 dividend of sorts
If the market was not crazy as it is now the play would be to buy AC for the div then flip it later ...
Correct
AC shareholders will receive these shares as a dividend I assume. I’m waiting to see if there is an 8k etc.
We also know who has 5MM of these shares bought at closing.
Now to continue to add value to this new company.
‘distribute to its shareholders on a pro rata basis the 50,000,000 shares of Morgan that Associated Capital owns.’
Pro rata, % shareholders of AC get the 83% held by $AC. All institutional owners which trade ‘burst and basket trades’, daily.
‘As of December 31, 2019 the book value of Morgan is $6,037,342 in the aggregate’
That’s $1.24 pps
‘And $0.10 per share’ accounting coincided with previous disclosures. May be addressed as ‘par’. Many ways to view numerical accounting strategies, especially for tax purposes.
Of course, AIMO.
Absolutely, DrewStegman! This virus issue is being used against trump economy, imo. All in all, Mr Gabelli’s network is seasoned through many administrations and crises like this virus (panic attack). They will be strong, soon enough. The buys were phenomenal today, really.
Really anticipating things moving back up, near term. The timeline advocates the inevitable changes that are now visible from the current circumstances. Tomorrow is the ‘due dates’ for many short positions (many companies allow short positions indefinitely, it’s a game really) China is eliminating theirs, no doubts, imo. I don’t buy foreign companies now, but hopefully we see an upwards trend back in motion in the next week or two (lowering the ‘panic’ curve, that is)
Have a great night!
spinoff not an Exchange.
Please note "has approved the spin-off of Morgan Group Holding Co. (“Morgan”, OTC: MGHL) to Associated Capital’s shareholders. Associated Capital will distribute to its shareholders on a pro rata basis the 50,000,000 shares of Morgan that Associated Capital owns. As of December 31, 2019 the book value of Morgan is $6,037,342 in the aggregate and $0.10 per share."
It's unfortunate, yes - but a great opportunity to load for us who are in this stock long-term
I look at LICT after its spinoff and the share price absolutely rocketed
I'm not concerned about the virus impact because it will fade and $MGHL will go much higher in the long-run
GLTU and load as much as you can at these prices
Great opportunity to dollar cost average
$MGHL Ok, was able to grab the deal today!
Great news this morning!
Way under valued, GLTUA
Watch for FY 10k to post, it is due today, let’s see! AC should post today, as well. Many should be posting today, look for deals during this downturn... sorry it’s due to the virus conditions .... sad circumstances but for those who can make ends meet during this time, it’s how it works out....
lol i'm right here! shaking my head though, can't grab more today, unfortunately! we are solid, just have to wait for a bit. this is gonna be a solid move, soon. FY is due today as well. the MC they mentioned was way under friday's eod MC so we are extremely under valued.
https://www.investopedia.com/ask/answers/032415/how-do-spinoffs-impact-investors-both-parent-and-subsidiary-companies.asp
Interesting article on what we can expect from the spinoff
Great news
Where did everybody go?
Lol
news . . . .
Associated Capital Group To Spin-off Morgan Group Holding Co.
GREENWICH, Conn.--(BUSINESS WIRE)-- Associated Capital Group, Inc. (NYSE: AC), (“Associated Capital”), announced today that its Board of Directors has approved the spin-off of Morgan Group Holding Co. (“Morgan”, OTC: MGHL) to Associated Capital’s shareholders. Associated Capital will distribute to its shareholders on a pro rata basis the 50,000,000 shares of Morgan that Associated Capital owns. As of December 31, 2019 the book value of Morgan is $6,037,342 in the aggregate and $0.10 per share.
Morgan, through its indirect, wholly-owned subsidiary, G.research, LLC (“G.research”), is an institutional research services firm founded in 1976. G.research is a broker-dealer registered under the Securities Exchange Act of 1934, as amended, that provides institutional research services and acts as an underwriter. This transaction is subject to regulatory approvals and there are no assurances that a transaction will be completed.
About Associated Capital Group, Inc.
Associated Capital, based in Greenwich Connecticut, is a diversified global financial services company that provides alternative investment management through Gabelli & Company Investment Advisers, Inc. (“GCIA” f/k/a Gabelli Securities, Inc.). The proprietary capital is earmarked for our direct investment business that invests in new and existing businesses. The direct investment business is developing along three core pillars: Gabelli Private Equity Partners, LLC (“GPEP”), formed in August 2017 with $150 million of authorized capital as a “fund-less” sponsor; the SPAC business (Gabelli special purpose acquisition vehicles), launched in April 2018; and Gabelli Principal Strategies Group, LLC (“GPS”) created to pursue strategic operating initiatives.
$MGHL/$AC Fiscal Year Ended 12/31/19
10-K due Monday, March 16, 2020
'The Gabelli organisation was founded in 1977 and operates several publicly traded companies, including three investment management firms: Teton Advisors, a small cap specialist, Associated Capital Group, an alternative manager, and GAMCO, a value equity boutique. The Merger Plus+ Trust stands as the firm’s second LSE-listed investment trust, following the launch of the Gabelli Value Plus+ Trust (‘GVP’) in February 2015. It oversees approximately $45 billion of assets collectively. Within this, Gabelli manages fourteen NYSE-listed and now two LSE-listed closed-end funds with approximately $7.5 billion AUM, making it one of the largest equity closed-end managers in the US. With headquarters in New York, Gabelli opened a London research office in 2000 to service its global portfolio management activities.'
https://www.lseg.com/markets-products-and-services/our-markets/london-stock-exchange/equities-markets/raising-equity-finance/market-open-ceremony/london-stock-exchange-welcomes-gabelli-merger-plus-trust
$MGHL: No virus risk here, no oil risk
No bond risk.
Private Equity....... wealth management.
Best value going right now.
Our patience is about to get rewarded........... ROYALLLyyyyyyy
GO $MGHL
$MGHL Can’t beat buying a tiny float ticker, in the midst of merger finalizing, managed by a seasoned team.
Is as easy as it gets!
Took advantage of yesterday’s bid seat, slapped a couple too.
Only have 2 otc holdings during this mess. Bought a couple good dippers on BBs, while the deals are available.
MGHL is a gem. #TradingDesk #InstitutionalResearch #Underwriters #GlobalBase #CNBC #Forbes #GabelliFunds
$MGHL: Overall market is going Whacko
We are relatively, still in the same trading range.
No direct impact overall to MGHL.
Lets get those $AC shares now........
$AC now at $39.21
GO $MGHL
I think we will get there sometime this year IMHO
Same boat as you guys. Agree that $5 is a good spot for the first chunk.
The only question on my mind now is how soon will we get there.
MGHL: Gabelli is brewing up something good here! He Is turning up the heat here in the AC\MGHL crock pot! IMO.
Stay tuned the end of 1Q2020 is almost here.
Get your tickets while they are cheap.
P.S. No dilution!
That’s where I have mine as well
I don’t know how high this will run but I think we will reach $5 for sure
Debating on raising it higher. Maybe I’ll just take some off the table when we get there and have the rest as free shares
Holding all shares for the future...no hurry no rush
Another part of the network:
https://www.keeleyteton.com/team/
Spot on with your conclusion, imo as well I slapped a couple k today to get the support higher. Doin what I can, when I can lol
Yes, you recall correctly :)
$MGHL : Amabile is part of the Trading group
They are market maker and underwriters.
And I think he comes from Knight Capital, if I recall.
Anyways, something is developing... they might be looking to become
autonomous just for Gabellis interests.
GO $MGHL
I have my sell in for $5 for the first batch...
REMINDER: G.Research is a trading desk as well as a research firm. Big bucks back this up!
Shed light on ‘purchases’ of 3 platforms.
This is an important find! Thanks for posting it. The affiliates involved shed light on 3 electronic trading systems over the last 5 year. In Japan, London, and Italy if I recall correctly. I’m on a mobile and can’t paste links from this... sorry about that.
$MGHL: The float is sooooooooooooooo tight.........
There's only so much they could to wiggle out cheap shares for
so long.
One block of 100k takes it way past $2.
Just look at the L2.
Moreover, MM's know that Gabelli is on the button to make the call
on the stock exchange offer.
Just the fact that they brought it up... something I wasn't initially
expecting, suggests that they are gonna do it.
GO $MGHL
GTSM to $7, must be out of shares... GO TIME!
$MGHL: You had your chance ..........
And it was staring you right in the face.
Gabelli about to make the call.......... Before this month is
over, we Get $AC shares.
This is gonna be SPECTACULAR !!!!!!!!!!
Now at $0.50
GO $MGHL
$MGHL: Given SPAC's hot run recently.........
You do realize that Gabelli has a foot in that game as well, right ?
https://www.nasdaq.com/articles/gabelli-led-defense-spac-lgl-systems-acquisition-files-for-a-%24125-million-ipo-2019-10-07
Its the preferred way of going rather than IPO for alot of these
"strategic investments" that he holds.
I have a feeling there is a very big plan in store for $MGHL and
that the valuation is about to pop pretty hard very shortly.
GO $MGHL
lol good perception
Hence why one must be Thrifty....
Nice! Ya, realistically, I never have 'cash' it's just a matter of scalping assets and covering living liabilities. 'net worth' is valued by assets, it's that simple accounting basics, is my interpretation lol
$MGHL: It was more a strategic move.......
Given that Amabile is already a g.Research employee and that
he oversees operations at MGHL, it gives them even greater
control and ownership of $MGHL.
So really, shares are ALL LOCKED up here.
For the open market, neither Amabile nor $AC have sold any shares.
We are bascially cycling thru a 2.5Million float here, moving around.
$AC is about to strike shortly here.... they know the market is depressed
which eventually gives $MGHL greater value in the long term on recovery.
Share price is about to go up here.
GO $MGHL
Great post.
Agreed.
#asset
MGHL
$MGHL Here's a PR from 8/19 for background highlights:
https://www.businesswire.com/news/home/20190808005503/en/G.research-LLC-Announces-Management
Interpretation of that 5M/.10, is irrelevant imo. It was for the accounting, that is my interpretation (we all have an interpretation I suppose lol) A security in the hands of a holder is an asset. A traded security is a liability. The history in all these tickers is clearly keeping a tight share structure and tiny float. Simple, no brainer, just 'when' will it actually get to the pps of the others in their portfolio, is the question.
I know and wasn’t meant as a bash.
I’m a buyer down here.
Just wanted everyone to get their facts straight.
That tranche was a signing “gift,” from Gabelli, IMHO.
MGHL
$MGHL: Thats a nice lil gift for him.....
So his investment is worth $2Million today.... restricted.
Must've been comp related.
He'll have to hold onto those shares but will also do well
when $AC shares are converted over.
Float at the end of the day is still only 2.5Million shares.
$AC owns pretty much all of $MGHL
GO $MGHL
Vincent paid .10 guys....
Agreed. That detail stays front and center to me too.
We should know by the end of this month.
$MGHL : I still keep coming back to this........
Vince Amabile bought 5 Million $MGHL shares on Closing
On October 31st.
Share price was ...... ?
So why would he buy 5Million Shares ?
At current price, he’s “under” value on that price.
So that means.... AC will do the share exchange.
Amabile must know that already.
GO $MGHL
$MGHL the ADX indicator is still weak, this quiet time is helping that. I sat on the Fib pivot point (a little above) and got the bid fill today I may see if I can again this week but this float is tiny if not non-existent outside of insiders playing the arbitrage (my guess, under 1M shares)
Sure enough, here's a new hedge in TETAB listing:
https://www.otcmarkets.com/filing/html?id=13927138&guid=tdICUqWlr8fZPyh
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