US Concrete Inc. (fka RMIXQ)

[tombrady12nh]

look for a bounce.

[cheeyeow]

are you happy that you just got a partial fill?

[ntmoney]

Existing shareholders would receive warrants to acquire 15 percent of the equity of the reorganized Company, with exercise prices to be set based upon achievement of certain valuation hurdles of the reorganized Company.


Is this good or bad?

[bsto]

Chapter 11, down .45 in last hour...

[soncivil]

No bankruptcy

[bsto]

Bankruptcy

[Stormthuman]

what does this mean?!!

[ftb]

U.S. Concrete Reaches Agreement With Bondholders

on Comprehensive Debt Restructuring
Last update: 4/29/2010 11:48:00 AM- Files Plan of Reorganization proposing a $272 million reduction in its subordinated debt - Seeks permission to pay trade creditors without disruption - Seeks approval of $80 million DIP credit facility - Operations to continue uninterrupted

HOUSTON, April 29, 2010 /PRNewswire via COMTEX/ -- U.S. Concrete, Inc. (RMIX) today announced it has reached an agreement with a substantial majority of its bondholders on the terms of a comprehensive debt restructuring. The proposed plan will reduce the Company's subordinated debt by approximately $272 million and significantly strengthen its balance sheet. To implement the restructuring, the Company is seeking expedited confirmation of a Plan of Reorganization ("Plan") filed today with the United States Bankruptcy Court in the District of Delaware. The filing is not expected to affect the Company's suppliers or customers.

The Company is seeking approval to pay suppliers in the ordinary course and to continue customer programs, as well as customary relief to continue its wage and benefit programs for its employees. The Company also requested approval of an $80 million debtor-in-possession (DIP) credit facility led by JPMorgan, as administrative agent and sole-lead arranger, to fund operations during the restructuring. The Company expects operations to continue as usual during the chapter 11 process, which is expected to be concluded in 75 to 90 days.

"We are very pleased that our bondholders are supportive of the steps we have taken to improve our balance sheet and, through it, the long-term health of our Company," said Michael W. Harlan, President and Chief Executive Officer of U.S. Concrete. "As a result of the restructuring, we should be positioned to be a financially strong competitor in our markets. We have taken steps to minimize the impact of this process on our suppliers, customers and employees, and we intend to move forward as expeditiously as possible to complete the restructuring."

The Plan provides that the holders of the Company's 8.325% Senior Subordinated Notes due 2014 would exchange their Notes for the equity in the reorganized Company. Existing shareholders would receive warrants to acquire 15 percent of the equity of the reorganized Company, with exercise prices to be set based upon achievement of certain valuation hurdles of the reorganized Company. The Company is requesting a hearing to approve the disclosure statement related to the Plan and to set an expedited schedule for approval of the Plan and for the Company's emergence from chapter 11. The restructuring does not involve the Company's joint venture operations in Michigan. Information about the restructuring is available at the Company's website, or via the Company's restructuring line at [phone].

About U.S. Concrete
U.S. Concrete services the construction industry in several major markets in the United States through its two business segments: ready-mixed concrete and concrete-related products; and precast concrete. The Company has 125 fixed and 11 portable ready-mixed concrete plants, seven precast concrete plants and seven producing aggregates facilities. During 2009 (including acquired volumes), these plant facilities produced approximately 4.5 million cubic yards of ready-mixed concrete and 3.0 million tons of aggregates. For more information on U.S. Concrete, visit .

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
This press release contains various forward-looking statements and information that are based on management's beliefs, as well as assumptions made by and information currently available to management. These forward-looking statements speak only as of the date of this press release. The Company disclaims any obligation to update these statements and cautions you not to rely unduly on them. Forward-looking information includes, but is not limited to, the completion of the Company's restructuring including the outcome and impact on our business of the proceedings under Chapter 11 of the Bankruptcy Code, and the ability of the Company to satisfy closing conditions under the agreements-in-principle and the plan of reorganization and related documents and to have the plan of reorganization confirmed by the bankruptcy court. Although U.S. Concrete believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that those expectations will prove to have been correct. Such statements are subject to certain risks, uncertainties and assumptions, including, among other matters: general and regional economic conditions; the level of activity in the construction industry, the ability of U.S. Concrete to complete acquisitions and to effectively integrate the operations of acquired companies; development of adequate management infrastructure; departure of key personnel; access to labor; union disruption; competitive factors; government regulations; exposure to environmental and other liabilities; the cyclical and seasonal nature of U.S. Concrete's business; adverse weather conditions; the availability and pricing of raw materials; and general risks related to the industry and markets in which U.S. Concrete operates. Should one or more of these risks materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those expected. These risks, as well as others, are discussed in greater detail in U.S. Concrete's filings with the Securities and Exchange Commission, including U.S. Concrete's Annual Report on Form 10-K for the year ended December 31, 2009.

SOURCE U.S. Concrete, Inc.

Copyright (C) 2010 PR Newswire. All rights reserved

[rocky113]

Theres a stalemate between people holding and the shorts. Not many adding to their positions and the shorts not giving any opportunity to buy back in to the profit takers. There may be a spike tomorrow afternoon as people wanting to get in settling for this price before Mondays financials.

[bogey999]

and now halted for news

[CHA$E]

R-we in <HALT> mode, hmmmm..... (1143 est)

When we open...it could get a little interesting imo

enjoy
;)

[rocky113]

RMIX showing type strong double support at .76 with a stregnth of 8. In my opinion profits have been taken which is a major plus as it won't contribute to any short manuevering today. It needs to hold today and tomorrow as Friday will indicate a strong bearish signal also. Beating financial estimates on Monday if they come out may mean that this is the last chance to get in at these levels as support will rise.

IMO

[rocky113]

Indicators showing 100% bearish meaning this one will be tested hard today. We will get to see how strong this stock really is as long as the shorts play fair and they don't try to cause a massive pullback.

So far so good

[bogey999]

Hmmm, got a partial at .775, stingy down there

[Drumstick]

Looking at the pre-market it looks like it will probably be a quiet day, so I'd be guessing you'd most likely get filled at .80

[RomeZ]

I'm thinking about putting a buy order at 0.80? I have looked on the RMIX charts that every May, the price is the highest in that year. Does anyone agree with me? Check out the charts from 2005-2009 on RMIX and you will see what I'm talking about. Since charts say that, maybe this May, it will do the same and RMIX's PPS will soar. History tends to repeat itself... Let me know what you guys think. Thanks

[Drumstick]

I agree, the US is going to have to invest heavily in the near future on it's crumbling infrastructure also. Plus these are good paying jobs which the government needs to create.

[detearing]

I added more today - this is a golden opportunity with the summer approaching and concrete demand increasing every day. I know this is a risky stock; however, the upside is more than many that I have currently own.

This was above 12.50 within the past 5 years...population and demand is increasing every day with a pent-up demand for new and maintained concrete structures, roads, bridges, etc.

Very exciting and very proud to own this stock!

[rocky113]

Because of that close I think it will be harder to find an entry point tomorrow, that was a great close.
This stock has great support above .80. I was hoping for another strong pullback because I know it will regain quickly but I don't think i'm going to see it. Thats the problem with flipping, there may not be a better entry point for me than right now. The longer I wait the less chance I have of getting back in at these levels. Even though my profit was over 100% I could ultimately lose out on a much bigger gain in the long run.

In my opinion I think the financials that come out early May could boost this back above a buck easily since it has already broken that plane.

So my answer to your original question is I think my entry point is right now.

[Drumstick]

What's your entry point? It held today, with a little kick at the end.

[tombrady12nh]

I agree, lots of concrete needs coming 2010-2012

[rocky113]

Took a nice chunk at .85, waiting for another entry point. I'm not done here, this companys not going anywhere. Its very volatile but lots more money to be made in the very near future.

Rocky

[Drumstick]

Just curious, but what price did you dump at?

[tombrady12nh]

nope, still here.

[Drumstick]

Well not so good now. Looks like the pumpers have left.

[Drumstick]

After market up.

[ftb]

RMIX is expected to announce 1st quarter 2010 earnings the week of May 3, 2010.

Consensus $-0.49

[ftb]

Outstanding Shares as of December 31, 2009 - 37,558,000

[spec machine]

check with tombrady12nh

he always has good info on that

anyone know what the real OS is here?

[RomeZ]

When are the earnings supposed to come out for RMIX? I heard on the in May on the 5th... But also, rumor has it that the earnings is -$1.23! That is terrible... Anyone has any info about earnings? Thanks

[bsto]

Anybody????????????????????

[SEF]

The link below shows 1 of 5 shares are currently shorted.

http://www.shortsqueeze.com/?symbol=rmix&submit=Short+Quote%99

Combine this with heavy buying and nearly double the daily average volume in the first hour. We may have a very interesting day! JMO

[wesley_]

GM rocky! wish us all GL! 1.00+ is a good start this a.m. so far...

[rocky113]

Good morning Wes, see you at 1.20!!!

[wesley_]

.95$ here we go... :)

[bsto]

.94 on MSN. Does the squeeze stop at end of week? What drives it? Help

[tombrady12nh]

.90 Premarket! See you at a buck ladies and gents

[rocky113]

Nice call!!!!

[rocky113]

Check out the morning line guys, look at that bid ask.

Short Squeeze ????????

[dinotori]

It will. Rmix could test 1.10 tomorrow easy.

[tombrady12nh]

:)

[tombrady12nh]

I love this stock!

[detearing]

Great day, hugh? More to come IMO...

[wesley_]

very nice breakout move so far...

[wesley_]

new HOD .88$ awesome! weeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee

[Tim]

Nothing at .85............. Blew right thru it. Tim

[wesley_]

.8376$ there she blows...

[rocky113]

We break .85 next resistance is .95 then 1.07 and there not that strong

[rocky113]

See YAAAAAAAA!!!!!

[Tim]

RMIX look good now - could easily get back over a buck this week. Tim