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Hurley I want my rack of beer
Hope you didn't loose money
Hurley
1) I was a bond holder but sold my position. Rally from $36 to $50 in two weeks.
2) I signed no NDA.
3) I am not short the equity - BAS
4) Read the SEC filing
5) Good luck
Hurley
Let's bet a case of your favorite beer that BAS files a pre-pack under CH11 by months end. Bond holders have signed NDA's and are mute in what's really going on but they will own the restructured company.
So is it a bet?
I don't have all the answers
But the speculation is the pre-pack won't completely wipe existing common out. The 2019's will more then likely convert through a debt for equity swap and participate an offering. And yes this is public information as BAS very clearly indicated what their intentions were in their last 8-K. Again call the advisors handling the 2019 forbearance agreement. When the news drops of restructuring, I suspect the common with follow the same path of CJESQ and might recovery once it's clear what if anything common holders will get. Of course I could be completely wrong and BAS won't file.
And with that I wish you the best of luck.
What evidence?
Bro I suggest you read the latest 8-K filing, then I suggest you contact the company as well as the advisors BAS hired. All very public information. An orderly pre-pack with over 81% support by 10/16. Bonds @ $36 were the play two weeks ago. They are now $44/45.
No. BAS will be filing a prepack under CH11.
Don't say you weren't warned.
Verily Life Sciences and TransEnterix
Direct connectivity between Verily and TRXC...formally @ SRI International
Merger or JV or....
Boston // I can't help but wonder how think the CFO's departure strengthens "to the buyout narrative." In the case of Amedica it does not and unless you are privy to confidential information, continually touting a buyout is coming is irresponsible. There is nothing positive about Ty's departure.
By the way, how did your FDA FOIA request work out, are you going to share your findings with all those you tell a buyout is coming?
Observation on today's PR and 8-K
The premature departure of a CFO is a significant negative event that institutional and retail investors look at. It is also a material event that requires disclosure and reporting through the SEC as satisfied through today's 8-K. This event however was not disclosed in Amedica's press release today, why? Per SEC regulations Amedica did pass the SEC material event muster by releasing the CFO's departure in their 8-K, but again, why didn't they include this information in their PR? While completely legal, it would seem the CFO's departure isn't something an investor should look for in an SEC filing, especially when the company put out a press release the same day.
Peace out...I'm gone
Theory and statistical modeling went out the door when confirmation of CSC approval wasn't coming until late 4Q2016 or early 1Q2017. You know this is fact as this came directly from the company and you and I have discussed at length off line.
If the company sold prior to CSC approval, it would open the door to dozens of class suits. On the other hand if the company sold now, full well knowing CSC FDA approval isn't coming, management could never generate any type of premium. Additionally management holds next to zero shares so there is no incentive for them to sell.
Boston, Amedica IS NOT a biotech and Amedica DOES NOT have P3 lead cancer trial drug that would garner a premium in an M&A...Amedica is a flowndering medical device company that was only promising because of CSC. Remove CSC and it's the same company that has diluted and reverse split to survive.
Boston
Spin this, please do. The CFO has left Amedica. Ty Lombardi is out. The hits just keep coming...please do spin this as a positive. Wall Street will surely agree that any time a CFO RESIGNS it's clearly a positive. Hahah
Now please tell us how it's a cost savings positive when a company terminates the employment of their CFO.
Good grief...it's like watching a slow-mo of a train wreck.
Boston
I am dumbfounded that you view today's news as positive. And I am baffled how you can believe that if the FDA rejects CSC that it will not hurt "current sales trajectory". Amedica's "sales trajectory" is declining Q over Q and without CSC that "trajectory" will absolutely continue. So in a sense you are correct. Hahah
If CSC is rejected then the PPS will be trading at .25-.40....Amedica, with all their promise, is in my most humblest of opinions, grossly mismanaged. They got into bed with two bit hustlers years ago and can not shake that overhang...We will be out by COB today and don't anticipate returning. Best of luck and I truly hope my "thesis" be proven wrong and you make a tremendous return on your investment.
Say hello to Mike and Sonny.
ATL
You are correct, the CEO bought zero shares. The 10k was granted as per his employment contract. Thus, free shares given to Dr. Bal.
Boston
Clearly I am wrong and the market is correct as evidenced on today's reaction to the news...oh I know it's shorts taking advantage of today's good news driving the PPS down. Or better yet dark pool HF hedges trading on today's good news driving the PPS down.
Bro, Amedica is in a world of hurt, bleeding cash, and their future rides on the FDA's approval of CSC...the new screw system isn't the answer and without CSC China is really non existent. And what many have conveniently overlooked, a few more months of sub $1 and its reverse split time. I fully expect an S-1 and 8-K to be released shortly.
Hurley
Right on bro...remember your post within 2 weeks...Go Packers!!
Peace
2019 7.75% Bonds - Cusip 06985PAH3
Call your broker or get a quote through your online trading platform. Depending on quantity, buy side quotes are between $37.50-$38.50...... .37-.38 on the dollar...Bonds will more then likely get a rights offering post pre-pack...Once BAS sheds $700-900mil in debt, it will be a cash cow.
Boston
So the working theory is the company has reduced its work force by 38% just days before the FDA decides their future?
There is something more going on, I.E. Company has been notified by FDA regarding CSC (approved/denied), declining sales, loss of contract. Generally companies don't reduce their workforce by 40% when they are about to ramp up sales or revenues are increasing.
My working theory is AMEDICA is preparing for the FDA to deny CSC.
Hotdawg
What am I talking about? BAS is going to file a pre-packaged plan of reorginization under Chapter 11.
BAS has cut deals with the debtholders (bond holders) and has negotiated a plan to convert the debt into equity. What if anything is left for current shareholders is unknown. Bonds are are trading 2019 and 2021 bonds are trading between $36-38 and are a cheap way to participate in post reorg BAS.
Shocking what peps don't understand
Prepack is coming...I can't comment as to what if anything will be carved out for shareholders because that's unclear, but the bonds are the way to play BAS...read the filings and research who BAS hired as advisors.
Scare tactic to force the hand of those holding out.
But make no mistake about it, prepack is a very real scenario.
Sold all commons today and moved to bonds.
8-K Just Filed
Suggest all read it; the follow comes directly from today's 8-K
"at any time after October 3, 2016 and prior to the execution of a restructuring support agreement (the “RSA”) in connection with the commencement of an insolvency proceeding involving Basic and its affiliates"
http://ir.basicenergyservices.com/phoenix.zhtml?c=130445&p=IROL-secToc&TOC=aHR0cDovL2FwaS50ZW5rd2l6YXJkLmNvbS9vdXRsaW5lLnhtbD9yZXBvPXRlbmsmaXBhZ2U9MTExNjE4NTgmc3Vic2lkPTU3&ListAll=1
BAS Primer - BLUEPRINT Seventy Seven Energy SVNT
Bond holders will own the majority of post "deleveraged" reorg BAS. Moelis & Company and Weil, Gotshal, & Manges LLP were hired for a reason. Selling common position and moving entirely into senior notes due 2019.
News prior to 16 October.
Bonds tell the story
2019 non-converts very strong...Deal done. Debt for equity on 2019's.
Deadline COB today. News after market close today or tomorrow.
Go long equity and 2019's if you can get them from GS.
Spoke to bond desk
Bonds trading @ .50 on dollar with large block buy today. 100k+
Deal has been reached.
News after market close
Bond Interest Paid
Interest was paid on the 7.75% senior notes due 2019. I have a call to bond desk and waiting for confirmation.
After Markets Close
Long
Atlanta1//Sup bud
I went off res today and personally opened a large seven figure position...Long term fundamentals mean nothing as this is an easy triple based on the gap down alone....
.25-.35 range within 10 trading days...
Seek an Destroy!
Swing traders front loading
Today was technically a fantastic move, but everything I've complied suggests if CSC earns FDA clearance, it will happen in Q4 to Q1 FY17. Normally I'd say if Clay the raider is here then hedge some of your gains, but there may also be some competing forces at work.
Gotta love the "private" chat rooms.
Like a Swiss clock.
Or a menstrual cycle....Always on time
FYI, Lions will be lucky to win 8 games.
My opinion, if there is indeed a difference, then go with the details in the 10-Q.
Below is an interesting example of statements made by a CEO during a conference call. Let me preface that I am in no way attempting to suggest or imply any parallel between this case and Amedica. I am only highlighting an extreme example of discrepancies sometimes found in conference calls. The genesis of this case I believe was due to a FOIA request submitted to the FDA, the results of which were posted on a message board and contradicted what was said by the CEO at an earlier CC.
In all sincerity I hope Amedica achieves the coveted clearance from the FDA for CSC. I have believed in their science from day one and that is what brought in as an investor. Hopefully the quality of their science will translate to investor returns.
http://www.businessinsurance.com/article/20130626/NEWS07/130629879
http://dealbreaker.com/2013/06/medical-device-company-ceo-thought-it-best-not-to-be-100-accurate-with-investors-about-possibly-exploding-device/
Shout Out: The fact I am posting on a Saturday is pathetic
I must have reached complete looser level, or has Amedica management reached an all time level of patheticness with how they treat their shareholders. Complete disregard for shareholders.
Message to Amedica Executives, rather then selectively responding to certain shareholders and subsequently releasing information via emails from your smart devices and iPad, either place a complete moratorium blackout on any inquires of CSC Cascade, or put out a PR next week detailing EXACTLY what the FDA delay is, how Amedica is approaching it, what is being done to resolve it, and the exact time frames for potential FDA resolution, clearance or denial.
There are numerous FOIA requests submitted to the FDA, some being MUCH further along then others. The exact details of which will be presented SOON. I absolutely can not fathom any school of management ever proposing that FOIA is a better method of information dissemination rather then a direct and proper public relations campaign. Marriott school of management this is not.
Awful, absolutely awful.
Gotta Keep'her Light Brother B745
Otherwise we'd go loco waiting for CSC.
Research Update
I came across this video of Amedica execs discussing the CSC approval process. Very interesting...
I guess the bEaRs were shooting blanks today
And to think I sent a hard line challenge and it couldn't be done. Pathetic but nice try. All the Bulls need to give a shout out to LTS for sending in a snake eating element when their friend Amedica was under assault. The LTS QRF did some solid work. Outstanding.
Now. What will happen Monday? I don't know but I'm certain will have some solid charts.
Here's to cazadores and starting the weekend @ noon.
Shocking someone didn't my post #6462
No emotion. Can you short today? No emotion.
I'd call you out but not worth it. No emotion.
Clay // Again Nice Chart
Sold entire position today on Clay's charting analysis. Looking to open 400k share short position tomorrow. Thanks again for the free charting service, you've saved me thousands.
Rule # 1 Agreed / Rule # 2 Agreed / Rule # 3 Agreed
With regard to "no sense". CFR's dictate the release of material events. Period. CFR's are specific. Period. CFR's do not allow a company to "hold back" the big nut. Period. CFR's do provide very specific requirements as for the LEGALLY permitted time frames when material news MUST be released. Period.
Anything within the aforementioned time frames as dictated by the CFR's is at the sole discretion of the company. Period. Hence, if a company is operating within the confines of the CFR's, then the company is legally permitted to disseminate the material information as they see fit.
I have personally heald some enormous short positions in my career. Northpoint Comm, Washington Mutual and Countrywide Financial just to name a few. But given the lack of available options strategies combined with the MATERIAL NEWS forthcoming, I would not under any circumstances short Amedica at this juncture.
Bullrider // damn if I know
I'm just a dude posting on a forum, drinking some beers and rocking out to Metallica
The reality is, public corps are bound by specific CFR's to report material information within very specific timeframes. I have certainly have had my personally differences with Amedica management in the past; however they have always been 100% on point when it comes to securities laws and regulations. Bal runs a very tight ship and his attention to detail is superb.
After looking at the current float based on prefs and warrant execution, combined with the long/short/total volume data for this week, my conservative estimate is roughly 40% of the overall outstanding is sold short. It's also quite possible the short percentage is closer to 60%. With such a high existing short position, would the release of FDA and contractual news be better served if it were strategically released?
The short term discomfort of price fluctuations is a small price to pay for the properly timed news cycle that will ultimately make longs a tremendous amount of money.
life moves fast so enjoy those seemingly mundane moments.
30yrs from now you'll look back and smile about those Pepsi and Chuck e days...
SIR YES SIR...19 AUGUST
To many Belgium Wheats and pork belly sliders!! Haha