Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
wait till after the dilution and reverse split if you must....
oh yeah. I'm out but still watching
psssssst
out of suncom
thanks
stay out of where?
*blonde moment*
I think you did GOOD!
(psssst... stay out)
I sold
was upset that I sold less than the hod but I just about doubled so guess I can't complain.
You and me both babe...love thosr r/s....but this one's a little different. They're issuing 87% of the outstanding to the bondholders at almost the same time of the r/s....that's a lotta dilution!.
Then putting themselves up for sale....
Today's rally could have been mostly a short covering...
but what do I know? We'll see I guess...
lol DKAM -- its alll your fault !!
omg look at it go up!!!
SunCom Wireless Reaches Consensual Agreement With Largest Subordinated Bondholders to Significantly Reduce Debt
Holders of More Than 91% of Senior Subordinated Notes Agree To Exchange Their Notes For Approximately 87% of SunCom's Common Stock
Exchange Would Reduce Debt by Approximately $679.3 Million
Company To Implement 1-for-10 Reverse Stock Split Prior To Exchange
Company Hires Goldman, Sachs & Co. To Advise it in Pursuing Strategic Alternatives, Including a Potential Sale Transaction
BERWYN, Pa., Jan. 31 /PRNewswire-FirstCall/ -- In a move intended to reduce its debt by approximately $679.3 million and annual interest payments by approximately $62 million, SunCom Wireless Holdings, Inc. (OTC Bulletin Board: SWSH.OB) today announced that the company and its subsidiaries have reached a consensual agreement with bondholders who hold or beneficially own more than 91% of the outstanding 9-3/8% Senior Subordinated Notes due 2011 and 8-3/4% Senior Subordinated Notes due 2011 (the 'Notes') of its indirect, wholly owned subsidiary, SunCom Wireless, Inc., to exchange their Notes for approximately 87% of SunCom Wireless Holdings' common stock. The exchange will provide the company greater financial flexibility. Completion of the exchange, which was unanimously approved by the SunCom Wireless Holdings Board of Directors, is expected in the second quarter of 2007, subject to approval by SunCom Wireless Holdings shareholders, regulatory approval and other customary closing conditions.
lol ya did good lizzy. I had any order in yesterday for 2.95 but too many peoples orders executed before mine did.
Chris
lol I'm guessing its a bout 6 hours away from you. Through some mountains. I'll be there from the 15th - 18th. Looks like they have 4 feet of snow on the slopes.
DPFD -- just bought some on the news for fun.
Chris
I got a little DKAM at 3.06 for a starter...not sure it will pull back below $3 again, but if it does I'll pick up more!
They will be doing a 1 for 10 split soon I see! I'm going to watch this one!
can't be too far (hear it on the radio all the time!)
why you treating? lol
thanks lizzy!!
So Tina -- how far away are you from this place ?
http://www.snowshoemtn.com/index.htm
Probably too far, lol.
Chris
Nice move on this today Tina! Wow!
XMSR -- I'm hoping it bottomed yesterday too.
Chris
Its nice to know that sometimes SWSHy is the way to go !
I had 3000 shares.
Sold the last 2K shares for 1.45, so I'm pretty happy with that.
Now if DKAM would pullback to 3ish just one last time ....
lol
Chris
lol
how'd you do today Chris?
Yeah -- I should zap Tina a finders fee via paypal or something.
Chris
lol those 10,000 shares of yours must be looking pretty good right now !
Chris
Just had lasagna, homemade mmmmmmmmmmm
and a big weeeeeeeeeeeeeeeeeeeeeeee back at ya, sweet move!!
lol
I just threw my lunch in the garbage!!!
had a Nutrisystem dinner that smelled ucky!
weeeeeeeeeeeeeeeeeee @ swsh!!
WOW nice move.. You guys are buying lunch today lol
just got back from a meeting!!
OMG!!
profit taking now --- 1.37.
sold some for 1.52
Frigging OTCBB execution takes minutes sometimes.
But wow !! it was great !
Chris
SunCom Wireless Reaches Consensual Agreement With Largest Subordinated Bondholders to Significantly Reduce Debt
Wednesday January 31, 10:16 am ET
Holders of More Than 91% of Senior Subordinated Notes Agree To Exchange Their Notes For Approximately 87% of SunCom's Common Stock Exchange Would Reduce Debt by Approximately $679.3 Million Company To Implement 1-for-10 Reverse Stock Split Prior To Exchange Company Hires Goldman, Sachs & Co. To Advise it in Pursuing Strategic Alternatives, Including a Potential Sale Transaction
BERWYN, Pa., Jan. 31 /PRNewswire-FirstCall/ -- In a move intended to reduce its debt by approximately $679.3 million and annual interest payments by approximately $62 million, SunCom Wireless Holdings, Inc. (OTC Bulletin Board: SWSH.OB - News) today announced that the company and its subsidiaries have reached a consensual agreement with bondholders who hold or beneficially own more than 91% of the outstanding 9-3/8% Senior Subordinated Notes due 2011 and 8-3/4% Senior Subordinated Notes due 2011 (the "Notes") of its indirect, wholly owned subsidiary, SunCom Wireless, Inc., to exchange their Notes for approximately 87% of SunCom Wireless Holdings' common stock. The exchange will provide the company greater financial flexibility. Completion of the exchange, which was unanimously approved by the SunCom Wireless Holdings Board of Directors, is expected in the second quarter of 2007, subject to approval by SunCom Wireless Holdings shareholders, regulatory approval and other customary closing conditions.
SunCom Wireless Holdings also announced today that its Board of Directors will pursue strategic alternatives, including the potential sale of substantially all of its business, and has engaged Goldman, Sachs & Co. as its strategic advisor, for the purpose of maximizing the company's value to its stockholders.
Michael E. Kalogris, chairman and chief executive officer of SunCom Wireless Holdings, said, "While SunCom Wireless occupies a strong, growing and highly competitive position in the Southeastern portion of the United States, Puerto Rico and the U.S. Virgin Islands, the company's debt load poses a challenge. We are, therefore, pleased that our bondholders have worked with us to reach this agreement. The proposed debt-for-equity exchange will provide SunCom stability and financial flexibility to pursue its business strategy. Our Board considered many options and this agreement represents, in our opinion and that of our independent advisors, the best solution for our shareholders while enabling SunCom the opportunity to continue to provide our customers the very best wireless service possible.
"The debt reduction will strengthen the company for the benefit of our one million loyal customers and our thousands of dedicated employees. Additionally, the Board's decision to pursue strategic alternatives, including a potential sale transaction, has the potential to maximize the value of the company for shareholders," added Kalogris.
Under the terms of the Exchange Agreement, SunCom Wireless Holdings will contribute newly issued shares representing approximately 87% of its Class A Common Stock (after giving effect to the conversion of outstanding Class B Common Stock) to SunCom Wireless Investment Company LLC, a wholly owned subsidiary of SunCom Wireless Holdings, which will then exchange such shares in a private placement for the Notes held or beneficially owned by the participating bondholders. Following completion of the transaction, current SunCom Wireless stockholders will hold approximately 13% of the Class A Common Stock.
Prior to the exchange, the company will effect a merger transaction with one of its wholly owned subsidiaries whereby each outstanding share of its Class A Common Stock will be converted into 0.1 share of Class A Common Stock for the purpose, among others, of implementing a 1-for-10 reverse stock split.
Following completion of the exchange, a new ten-member SunCom Wireless Holdings Board of Directors will be constituted. Kalogris will continue as Chairman of the Board, as well as Chief Executive Officer, and Scott Anderson, Chairman of the Audit Committee, will remain in that position on the Board. The other eight directors will initially be designated by various participating bondholders.
Additionally, the SunCom Wireless senior management team will remain in place.
About SunCom Wireless
SunCom Wireless Holdings, Inc. is a leader in offering digital wireless communications services to consumers in the Southeastern United States, Puerto Rico and the U.S. Virgin Islands. With more than 1 million subscribers, SunCom Wireless is committed to being a different kind of wireless company focused on treating customers with respect, offering simple, straightforward plans and providing access to the largest GSM network and the latest technology choices. SunCom Wireless is a proud provider of Wireless AMBER Alerts. For more information about SunCom Wireless products and services, visit http://www.suncom.com or call 877-CALL-SUN (1-877-225-5786).
1.27 now !
that's still awesome
I'd just be happy for it to stay over $1
lol selling of now
1.13
OMG!!!!!!!!
weeeeeeeeeeeeeeeeeeeee
1.16x1.17 !!
Chris
OMG!!!
My chart isnt working on here!
I couldn't get into scottrade this morning
A 15 cent move !!
on a $1 stock !!!
Wheeeeeeeeeeeeeeeee !!
Chris
huh?
what i miss?
woooooooooohoooooooooooo !!!!!
you and me both!!
1.01x1.03 now
Hope its holds.
Chris
over $1 again
oh oh
i'll keep you informed
Followers
|
0
|
Posters
|
|
Posts (Today)
|
0
|
Posts (Total)
|
235
|
Created
|
07/16/06
|
Type
|
Free
|
Moderators |
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |