These are just my opinions and nothing i post should be considered to be investment advice or solicitation
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Think this worth ~$4 ...will buy lot stock ~$1
One of worst managed cos I have ever seen
This one seems destined trade below .10
Hope nobody fell for banana in tailpipe
Nice pump and dump...
New Director Purchase wi last week? https://www.sec.gov/Archives/edgar/data/1336198/000101359424000281/xslF345X05/form4.xml
Destroy an NOL, genius? How? I'll wait...
Exactly, ignore shorty, he will get his
Big $ Board and CEO...watch and learn
https://www.nurideinc.com/
~$2 BILLION in Tax Assets, do the math
Shorts have been warned
Lordstown Motors expected to emerge from bankruptcy with new name, new CEO
https://www.bizjournals.com/cleveland/news/2024/03/08/lordstown-motors-emerge-bankruptcy-nu-ride.html
Stock could be worth ~ $4, shorties better cover
$ADM is $70 stock
Bear hug
Nobody sig for 3 years bc will bust NOLs
Who will invest vs 40%+ holder at .30?
One of worst managements i've ever seen
Kyle Ross going to destroy ELLH twice?
Fat coupon prefs, fees will suck co dry
38x dilution coming
SBNYCorp 4.0s 10/15/30 trading 26-1/2
on intearctive brokers, schwab is for amateurs
26 bid SBNYCorp 4.0s 10/15/30 cusip 82669GCK8
on screen
Bonds = SBNYCorp 4.0s 10/15/30 cusip 82669GCK8
Less risky than preferred stock or common in my opinion
Price is what you pay
Value is what you get
Bonds went out 26 bid
Signature Bank unsecured bonds trading at 21
bonds are safer play than stock
Traders Eye Potential Windfall in Defunct Signature Bank’s Bonds
FDIC balance sheet points to positive worth at failed bank
Seaport has been activing making markets in the bonds
By Reshmi Basu
December 12, 2023 at 9:38 PM UTC
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1:48
Traders are betting that bonds tied to the defunct Signature Bank hold unexpected value, sending prices on the securities soaring from near zero.
In recent days, the bank’s 4% subordinated bonds due 2030 have jumped to around 13 cents on the dollar, after trading in November for a quarter of a penny, according to Trace. Its 4.125% subordinated notes due 2029 also last changed hands at 13 cents, up from a penny last month.
The surge of activity in the bonds — which have been thinly traded since the Federal Deposit Insurance Corporation took over the New York-based bank in March — comes after traders and investors discovered a recent FDIC balance sheet showing that Signature Bridge Bank, the unit the FDIC created to take over Signature, has a positive net worth of $446 million, according to people with knowledge of the matter.
Signature’s failure came two days after Silicon Valley Bank was seized by regulators, and was followed by the collapse of First Republic Bank. FDIC balance sheets for those lenders show large holes — nearly $17 billion for First Republic, and $13 billion at Silicon Valley Bridge Bank.
Brokers including Seaport Group have been actively quoting the bonds in recent weeks, said the people, who asked not to be identified discussing a private matter.
Seaport didn’t immediately respond to requests for comment. A representative for the FDIC declined to comment.
Around $575 million of subordinated bonds are tied to Signature Bank, and any surplus at the bridge bank would theoretically be returned to creditors by the FDIC, the people said.
The FDIC said the takeover would cost its deposit insurance fund around $2.5 billion. The FDIC has begun auctioning off the bank’s portfolio, which included $110 billion of assets at the end of 2022.
Brookfield: Picking Related’s bid for Signature loans is illegal
https://therealdeal.com/new-york/2023/12/12/brookfield-says-fdics-signature-loan-sale-could-be-illegal/
The 4/4.125% bonds trading at 11, decent volume
up 5x since August...somebody w cash seems to have an opinion
Barney Frank: NY "never said we were insolvent."
https://nymag.com/intelligencer/2023/03/barney-frank-says-more-shuttering-signature-bank.html MAR. 15, 2023
"I’m very disappointed to learn, apparently, the Department of Financial Services in New York, which did the closing, hasn’t said we were insolvent! They said, well, they had a problem, because they couldn’t get sufficient data. I mean, I was disappointed when they closed it, and sort of vindicated — they have not argued that we were insolvent. And I think it’s very clear if we had the benefit of those two announcements, we’d still be an ongoing bank."
Howell told Congress SBNY was solvent, bonds = 100%
Transcript: https://www.banking.senate.gov/imo/media/doc/Howell%20Testimony%205-16-23.pdf
"I believe the Bank was well-capitalized, solvent, and had sufficient borrowing capacity to withstand these and future withdrawals. I was disheartened that this did not come to pass,"
video https://www.banking.senate.gov/hearings/examining-the-failures-of-silicon-valley-bank-and-signature-bank
Shay told Congress SBNY was solvent, bonds = 100%
Transcript https://www.banking.senate.gov/imo/media/doc/Shay%20Testimony%205-16-23.pdf
"The bank was well-capitalized. The bank was solvent – indeed, it was always solvent,
with assets well in excess of liabilities even at the very end. And the bank had a well-defined
and solid plan to continue in operation and withstand additional withdrawals. "
What is Conference Code for meeting video?
Provisional ballot for 2nd largest holder?