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ok Im shootin a message off......
hang in there
ok, Im here, this is me, Alex Chory, the one and only
how may I be of service?
HUN closes the week in the RED
lions and tigers and bears OH MY!!!!
MACH, are you buying any HUN??????
let me know.
GNV earnings out, not real good and NAV decreased
so if they go with the equity route, GNv will be like TICC
looked like a few writedowns
===============================================================
Net asset value was $11.80 per share as of February 29, 2008
GSC Investment Corp. Announces Fourth Quarter and Fiscal Year 2008 Financial Results
Thursday May 22, 4:20 pm ET
NEW YORK--(BUSINESS WIRE)--GSC Investment Corp. (NYSE:GNV - News), a business development company, today announced results for the fourth quarter and fiscal year ended February 29, 2008.
Fiscal Year 2008 Highlights
Completed IPO in March 2007
Entered into a $100 million three-year revolving credit facility in April 2007
Purchased over $325 million of assets in fiscal 2008
Closed $400 million collateralized loan obligation fund in January 2008
Net investment income of $10.7 million or $1.38 per share (weighted average basic and diluted) for the fiscal year; net investment income of $2.56 million, or $0.31 per share (weighted average basic and diluted) for the three months ending February 29, 2008
Adjusted net investment income of $2.9 million or $0.36 per share for the three months ending February 29, 2008
Realized gains and net investment income of $1.89 per share (weighted average basic and diluted) for the fiscal year
Declared $1.55 per share in dividends for the fiscal year; declared regular fourth quarter dividend of $0.39 per share and a special dividend of $0.18 per share
No non-performing or delinquent investments at the end of the fiscal year
Operating Results
“We are pleased with our first year operating results, particularly during this challenging period in the credit market,” said CEO Thomas V. Inglesby. “We were able to pay an attractive and high quality dividend by rapidly leveraging the capital from our IPO with long-term financing and using our investment sourcing ability to quickly assemble a diversified portfolio of seasoned, income producing assets.”
For the full fiscal year, GSC Investment Corp. reported a net loss of $5.5 million or $0.70 per share. These losses were primarily due to $20.1 million of unrealized depreciation in the Company’s portfolio due to write-downs in the fair value of the Company’s investments. Net investment income for the fiscal year was $10.7 million or $1.38 per share.
For the fourth quarter, GSC Investment Corp. reported a net loss of $9.4 million or $1.13 per share. Net investment income of $2.56 million or $0.31 per share for the quarter was offset by net loss on investments of $12 million or $1.44 per share. The net loss on investments was due primarily to $12.8 million of net unrealized depreciation in the Company’s portfolio due to write-downs in the fair value of the Company’s investments.
Adjusted net investment income was $2.9 million or $0.36 per share for the fourth quarter. The adjustments included a $0.1 million add back of federal excise taxes and a $0.3 million add back of the write-off of deferred financing, which is a non-recurring charge.
Net asset value was $11.80 per share as of February 29, 2008.
“Our investment philosophy is to buy and hold income producing investments with solid credit fundamentals,” said Mr. Inglesby. “As a low levered finance company, we have the ability to withstand short-term mark-to-market volatility while pursuing our investment objective of generating current income from a stable and diversified portfolio.”
Portfolio and Investment Activity
“The credit quality of our portfolio remains strong, despite the ongoing challenges in the credit market,” said Mr. Inglesby.
As of the end of the fiscal year, all 46 of the Company’s investments were current on their principal and interest payments, and were being accounted for on an accrual basis. During the fiscal year, there were no payment defaults in the Company’s portfolio; two investments became delinquent during the fiscal year but cured prior to default.
As of February 29, 2008, the value of the Company’s portfolio was $172.8 million. The Company had 46 investments in 38 portfolio companies with an average investment size of $3.8 million and a weighted average maturity of 3.8 years. The average investment in each portfolio company is $4.5 million. The overall portfolio composition consisted of 15.3% first lien term loans, 36.1% second lien term loans, 18.3% senior secured notes, 13.5% unsecured notes, 16.7% structured finance securities and 0.1% equity/limited partnership interests.
During the fiscal year, GSC Investment Corp. made investments in an aggregate principal amount of $327.1 million and experienced $129 million in aggregate principal amount of exits and repayments, resulting in $198.1 million in net investments by aggregate principal amount.
For the fiscal year, the Company had approximately $3.9 million of net realized gains. The most significant realized gains for the year were $1.0 million and $1.7 million attributable to the repayment of the Strategic Industries’ Second Lien Term Loans and the repayment of the Sportcraft, LTD Second Lien Term Loans, respectively.
During the fourth quarter, the Company received cash proceeds of $3.5 million in respect of a 30% partial repayment, at par plus all accrued interest, of its investment in the McMillin Companies LLC senior secured notes; this repayment resulted in a reversal of unrealized loss of $0.6 million and a realized gain of $0.2 million with respect to the repaid portion of the investment.
In January 2008, the Company purchased the entire $30 million subordinated notes tranche of GSC Investment Corp. CLO 2007, Ltd., a $400 million CLO that the Company manages. As of February 29, 2008, the GSC Investment Corp. CLO had $372.9 million in aggregate principal amount of investments and $40.3 million in uninvested cash.
“GSC Investment Corp. is able to utilize the CLO’s low priced, long-term financing to invest in a portfolio of high quality income producing assets at attractive prices,” said Mr. Inglesby. “We were very pleased to be able to leverage the GSC Investment Corp. and GSC Group platforms to raise a CLO during this market dislocation. Over the past 12 months only a small number of such funds have closed.”
In April 2008, one of the Company’s portfolio companies, SILLC Holdings (“SILLC”), entered into an agreement to sell 100% of its subsidiary, GST AutoLeather, Inc., to a third party. On May 21, 2008, we received a notification of repayment, at par, of the SILLC Second Lien Term Loan (of which the Company holds $23 million in aggregate principal amount). Such repayment will result in the reversal of the $2.6 million unrealized depreciation recorded in fiscal year 2008 and a realized gain of $0.2 million in the first quarter of fiscal year 2009.
After the retirement of SILLC’s second lien term loan, the Company will have only two investments, excluding its CLO, that account for greater than 5% of the Company’s investment portfolio.
As of February 29, 2008, the weighted average current yield on the Company’s first lien term loans, second lien term loans, senior secured notes, unsecured notes and structured finance securities were 8.1%, 10.8%, 11.5%, 12.2% and 8.2%, respectively, which results in an aggregate weighted current yield of 10.3%. As of February 29, 2008, 33% or $57 million of its interest-bearing portfolio was fixed rate debt with a weighted average current coupon of 11.7% and 50.2% or $86.8 million of its interest-bearing portfolio was floating rate debt with a weighted average current spread of LIBOR plus 5.8%.
Liquidity and Capital Resources
As of February 29, 2008, the Company had borrowed an aggregate of $78.5 million under its revolving facility and had $21.5 million of undrawn commitments remaining. During the fourth quarter, the Company consolidated its credit facilities to allow for additional borrowing capacity and expensed $0.3 million of unamortized deferred financing costs associated with the terminated facility. These expenses are non-cash and are non-recurring.
Dividend
On March 10, 2008, GSC Investment Corp. paid a dividend of $0.39 per share. During the 2008 fiscal year, the Company declared $1.55 in dividends, including a special dividend of $0.18 paid on January 28, 2008.
On May 22, 2008, GSC Investment Corp. declared a first quarter dividend of $0.39 per share payable on June 13, 2008, to common shareholders of record on May 30, 2008.
2008 Fourth Quarter Conference Call/Webcast Information
When: Friday, May 23, 2008, 10:00 a.m. Eastern Time (ET)
Call: Interested parties may participate by dialing (877) 440-5804 (U.S. and Canada) or (719) 325-4941 (outside U.S. and Canada).
A replay of the call will be available from 1:00 p.m. ET on Friday, May 23, 2008 through midnight Friday, June 6, 2008 by dialing (888) 203-1112 (U.S. and Canada) or (719) 457-0820 (outside U.S. and Canada), passcode for both replay numbers: 5877946.
Webcast: Interested parties may also access a simultaneous webcast of the call by going to http://ir.gscinvestmentcorp.com/events.cfm. A replay of the webcast will be available from 1:00 p.m. ET on Friday, May 23, 2008, through midnight Friday, June 20, 2008.
About GSC Investment Corp.
GSC Investment Corp. is a specialty finance company that invests primarily in first and second lien loans and mezzanine debt of private, U.S. middle-market companies and high yield bonds. It has elected to be treated as a business development company under the Investment Company Act of 1940. The Company also opportunistically invests in distressed debt, the debt and equity securities of public companies, and collateralized loan obligation vehicles. The Company draws upon the support and investment advice of its external manager, GSC Group, an alternative asset investment manager that focuses on complex, credit-driven strategies. GSC Investment Corp. is traded on the New York Stock Exchange under the symbol “GNV.”
Forward Looking Statements
http://biz.yahoo.com/bw/080522/20080522006042.html?.v=1
Gartner Group, possible play
I was lucky to get in THRX under $14 this morning
I put this one up a few days ago didnt EYE?
YESTERDAY SELLOFF IN KCI WAS A MMs dream, take out all the stops
but NOOOOOOOOOOOOO I kept mine way below the average on this one,,,,,
boo boo boo yaaaaaa
thank you maaaaaaaadddddddddd money
NICE CUP AND HANDLE FORMATION ON THRX
check your email
Cramer talking about ENS now on mad money
OK here's the scoop on the HBIO big block, wow, what a mess
an insider sold a block consisting of 1 million shares, but he
also is affliated with skystone advisors.
http://www.pinksheets.com/edgar/GetFilingPdf?FilingID=5951374
As a result of the rejection by the Board of Directors of the December 12, 2007 proposal of the
Skystone Funds to acquire all of the outstanding Shares of the Issuer not already owned by the Skystone Funds
(the “Proposal”), and the decision of the Board of Directors not to engage in substantive discussions with
Skystone regarding the Proposal, the Skystone Funds are no longer pursuing the Proposal at this time.
The Reporting Persons disposed of the Shares reported herein as sold on May 16, 2008 in connection
with the investment allocation decisions for the Funds.
http://www.pinksheets.com/edgar/GetFilingPdf?FilingID=5951396
http://www.pinksheets.com/edgar/GetFilingPdf?FilingID=5951420
so thats over 1.7million shares the Market maker absorbed at $5.00.
now, who took all those 1.7 mil? or is that overhang now.
maybe it's just better they get out of the way.
INDU right on the 50 day ma again
Friday I'm rebalancing my whole poorfolio...
fukk this sheit
waited too long profit totally wiped out dammit
fukking market shtt
waited too long profit totally wiped out dammit
fukking market shtt
this fukking oil market is killing the good stocks and Im pissed my
poorfolio is shrinking fast
but lookee here
VIVO a slight recovery
I done with GNV after earnings, divvy or not
I just hate it
nope, fully invested to the hilt, like I said, in all the wrong places
the wishing well is dry
comprende senior@dropmeadime.com
A BLAST FROM THE PAST!!!!!
TRONOX
no matter how hard I try, just always in the wrong place at the wrong time.
well earnings tomorrow for GNV, so wait till then and decide.
GNV can either go up, down, sideways and we still collect dividends,
thats what this stock is all about. No brainer, we didn't
get into GNV for day trading, everybody should have a high
yielder like GNV in their POORFOLIO's, it helps alleviate
some risk. anywho, like you, I'm now an official BAGHOLDER in HBIO also. yesterday, they dropped it to the low of the day on
a 100 share trade, they seem to be trying to shake shares or
scaring everyone out for some reason, there is no way HBIO
should be trading this low, it does almost $100mln in REVENUE
per year and has a solid balance sheet. its that fukking poison
pill the management instituted, and to think I vited the bastard BOD's in, apparently
these guys just don't understand shareholder value I guess,
just load up their pockets with free shares, yeah I pissed,
holding 5k shares of this dog, it hurts when you see all those
tankers rocketing up. my bad!
MACH TRX moving nice now
TRX
TRONOX really starting to move, even today in a weak market
KCI strong
GIVN
THRX looks tempting to enter
tic toc, the mousey went up the clock
and I know I mentioned this one, yep, missed another one
and why am I in HBIO when I passed this up, why why why, always
in the wrong place at the wrong time, gotta be a better way.
***ROCA MINES***
Im not even breakeven on GNV yet, geezus, hope this moves up a tad or else Im out the next divvy....
too many other stocks trending up
how do they do it?
well, looks like Im a bagholder for awhile in HBIO, never fukking FAILS
http://pinksheets.com/edgar/GetFilingPdf?FilingID=5946220
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
HARVARD BIOSCIENCE, INC.
(Exact Name of Registrant as Specified in Its Charter)
Delaware 84 October Hill Road
Holliston, Massachusetts 01746
(508) 893-8999
04-3306140
(State of Incorporation) (Address of Registrant’s principal executive offices) (I.R.S. Employer Identification No.)
HARVARD BIOSCIENCE, INC.
SECOND AMENDED AND RESTATED 2000
STOCK OPTION AND INCENTIVE PLAN
(Full Title of the Plan)
Chane Graziano, Chief Executive Officer
HARVARD BIOSCIENCE, INC.
84 October Hill Road
Holliston, Massachusetts 01746
(508) 893-8999
(Name, address, including zip code, and telephone number, including area code, of agent for service)
With copies to:
H. David Henken
Daniel P. Adams
Goodwin Procter LLP
Exchange Place
Boston, Massachusetts 02109-2881
(617) 570-1000
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.
Large accelerated filer ¨ Accelerated filer x Non-accelerated filer ¨ Smaller reporting company ¨
(Do not check if a smaller reporting company)
Calculation of Registration Fee
Title of Securities
to be Registered
Amount to be
Registered(1)(2) Proposed
Maximum
Offering Price
Per Share(2)
Proposed
Maximum
Aggregate
Offering Price(2)
Amount of
Registration Fee
Common Stock, par value $0.01 per share
2,500,000 shares $ 4.86 $ 12,150,000.00 $ 477.50
(1) This Registration Statement relates to 2,500,000 shares of Common Stock, par value $0.01 per share, of Harvard Bioscience, Inc. (“Common Stock”) available for issuance under the Harvard Bioscience, Inc. Second Amended and Restated 2000 Stock Option and Incentive Plan (together with previous versions of such plan, the “Plan”); plus such indeterminate number of additional shares of Common Stock as may be required pursuant to the Plan in the event of a stock dividend, stock split, split-up, recapitalization or other similar event. This Registration Statement also relates to the Rights to purchase shares of Series A Junior Participating Cumulative Preferred Stock of Harvard Bioscience, Inc. (the “Company”) which are attached to all shares of Common Stock pursuant to the terms of the Company’s Shareholder Rights Agreement dated February 5, 2008. Until the occurrence of certain prescribed events, the Rights are not exercisable, are evidenced by the certificates for the Common Stock and will be transferred only with such stock.
(2) The Company previously filed a Registration Statement on Form S-8 on January 17, 2001 (SEC File No. 333-53848), registering the issuance of 4,849,096 shares of Common Stock under the Plan. On April 15, 2003, the Company filed a Registration Statement on Form S-8 (SEC File No. 333-104544) registering the issuance of 787,413 additional shares of Common Stock under the Plan. On June 28, 2006, the Company filed a Registration Statement on Form S-8 (SEC File No. 333-135418) registering the issuance of 2,067,060 additional shares of Common Stock under the Plan. By filing this Registration Statement in accordance with Instruction E to Form S-8, the Company registers the issuance of the 2,500,000 additional shares of Common Stock approved for issuance under the Plan at the Annual Meeting of Stockholders of the Company held on May 15, 2008.
(3) This estimate is made pursuant to Rule 457(c) and (h) under the Securities Act of 1933, as amended (the “Securities Act”), solely for the purpose of determining the amount of the registration fee. The registration fee is based upon the average of the high and low sales prices for a share of Common Stock on May 15, 2008, as reported on the NASDAQ Global Market.
--------------------------------------------------------------------------------
The Company previously filed a Registration Statement on Form S-8 with the Securities and Exchange Commission on January 17, 2001 (SEC File No. 333-53848) in connection with the Plan (the “Original Filing”). This Registration Statement registers additional shares of the Company’s Common Stock to be issued pursuant to the Plan. The contents of the Original Filing are incorporated by reference into this Registration Statement pursuant to General Instruction E of Form S-8.
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 8.
Exhibits
The exhibits listed below represent a complete list of exhibits filed or incorporated by reference as part of this Registration Statement.
(1)3.1
Second Amended and Restated Certificate of Incorporation of Harvard Bioscience, Inc.
(1)3.2
Amended and Restated Bylaws of Harvard Bioscience, Inc.
(2)3.3
Amendment No. 1 to Amended and Restated Bylaws of Harvard Bioscience, Inc. (as adopted October 30, 2007)
(1)4.1
Specimen certificate for shares of Common Stock, $0.01 par value, of Harvard Bioscience, Inc.
(1)4.2
Amended and Restated Securityholders’ Agreement dated as of March 2, 1999 by and among Harvard Apparatus, Inc., Pioneer Partnership II, Pioneer Capital Corp., First New England Capital, L.P. and Citizens Capital, Inc. and Chane Graziano and David Green
(3)4.3
Shareholder Rights Agreement, dated as of February 5, 2008 between Harvard Bioscience, Inc., and Registrar and Transfer Company, as Rights Agent
* 5.1
Legal opinion from Goodwin Procter LLP
* 23.1
Consent of KPMG LLP, as independent registered public accounting firm
23.2
Consent of Goodwin Procter LLP (contained in the opinion filed as Exhibit 5.1 to this Registration Statement)
24.1
Power of attorney (included on the signature page to this Registration Statement)
* Filed herewith.
(1) Previously filed as an exhibit to the Company’s Registration Statement on Form S-1 (File No. 333-45996) and incorporated by reference thereto.
(2) Previously filed as an exhibit to the Company’s Current Report on Form 8-K (filed on November 1, 2007) and incorporated by reference thereto.
(3) Previously filed as an exhibit to the Company’s Current Report on Form 8-K (filed on February 8, 2008) and incorporated by reference thereto.
2
--------------------------------------------------------------------------------
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, as amended, the Company certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in Holliston, Massachusetts, on this 19th day of May, 2008.
HARVARD BIOSCIENCE, INC.
By: / S / Chane Graziano
Chane Graziano
Chief Executive Officer
POWER OF ATTORNEY
KNOW ALL BY THESE PRESENTS that each individual whose signature appears below constitutes and appoints each of Chane Graziano and Susan M. Luscinski as such person’s true and lawful attorney-in-fact and agent with full power of substitution and resubstitution, for such person in such person’s name, place and stead, in any and all capacities, to sign any and all amendments (including post-effective amendments) to this Registration Statement (or any Registration Statement for the same offering that is to be effective upon filing pursuant to Rule 462(b) under the Securities Act of 1933), and to file the same, with all exhibits thereto, and all documents in connection therewith, with the Securities and Exchange Commission, granting unto each said attorney-in-fact and agent full power and authority to do and perform each and every act and thing requisite and necessary to be done in and about the premises, as fully to all intents and purposes as such person might or could do in person, hereby ratifying and confirming all that any said attorney-in-fact and agent, or any substitute or substitutes of any of them, may lawfully do or cause to be done by virtue hereof.
Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has been signed by the following persons in the capacities and on the date indicated. Each person listed below has signed this Registration Statement as an officer or director of Harvard Bioscience, Inc.
3
--------------------------------------------------------------------------------
Signature
Title
Date
/s/ Chane Graziano
Director and Chief Executive Officer (Principal Executive Officer) May 19, 2008
Chane Graziano
/s/ Susan M. Luscinski
Chief Operating Officer and Treasurer
(Principal Financial Officer and Principal Accounting Officer)
May 19, 2008
Susan M. Luscinski
/s/ Robert Dishman
Director May 19, 2008
Robert Dishman
/s/ Neal J. Harte
Director May 19, 2008
Neal J. Harte
/s/ David Green
Director May 19, 2008
David Green
/s/ John F. Kennedy
Director May 19, 2008
John F. Kennedy
/s/ Earl R. Lewis
Director May 19, 2008
Earl R. Lewis
/s/ George Uveges
Director May 19, 2008
George Uveges
4
--------------------------------------------------------------------------------
EXHIBIT INDEX
Exhibit
Number
Description
(1)3.1
Second Amended and Restated Certificate of Incorporation of Harvard Bioscience, Inc.
(1)3.2
Amended and Restated Bylaws of Harvard Bioscience, Inc.
(2)3.3
Amendment No. 1 to Amended and Restated Bylaws of Harvard Bioscience, Inc. (as adopted October 30, 2007)
(1)4.1
Specimen certificate for shares of Common Stock, $0.01 par value, of Harvard Bioscience, Inc.
(1)4.2
Amended and Restated Securityholders’ Agreement dated as of March 2, 1999 by and among Harvard Apparatus, Inc., Pioneer Partnership II, Pioneer Capital Corp., First New England Capital, L.P. and Citizens Capital, Inc. and Chane Graziano and David Green
(3)4.3
Shareholder Rights Agreement, dated as of February 5, 2008 between Harvard Bioscience, Inc., and Registrar and Transfer Company, as Rights Agent
* 5.1
Legal opinion from Goodwin Procter LLP
* 23.1
Consent of KPMG LLP, as independent registered public accounting firm
23.2
Consent of Goodwin Procter LLP (contained in the opinion filed as Exhibit 5.1 to this Registration Statement)
24.1
Power of attorney (included on the signature page to this Registration Statement)
* Filed herewith.
(1) Previously filed as an exhibit to the Company’s Registration Statement on Form S-1 (File No. 333-45996) and incorporated by reference thereto.
(2) Previously filed as an exhibit to the Company’s Current Report on Form 8-K (filed on November 1, 2007) and incorporated by reference thereto.
(3) Previously filed as an exhibit to the Company’s Current Report on Form 8-K (filed on February 8, 2008) and incorporated by reference thereto.
I dont know, if I were yuu, Id short FREE down to $4
maybe $2
FREE
KCI, still no confirm on the 12/26 crossover and it climbing
the upper bb
OOOOOOWeeeeeeee look at this tanker list
http://stockcharts.com/charts/candleglance.php?osg,fro,sfl,nat,hos,trmd,tnp,atb,tk,gmr|B