Fibertower Corp fka FBBT

[wirelessman77]

The Bonds were $175M
Unsecured Creditors were $50M
Miscellaneous/Cushion $25M
Total Hurdle for Shareholders $250M
That is why it would be helpful to see who bought up the shares when they were trading for pennies. Approximately 48M shares were outstanding at the time the final BK was approved. The bondholders tried to convince the judge that the spectrum they retained and the spectrum in question with the FCC wasn't worth much so the bondholders should retain everything that was current and under question. The judge saw what they were up to and said not so fact. The spectrum in question which was nearly all of it will be held in a the status of pre-effective chapter 11. Well now we see that spectrum has tremendous value. Simply taking the valuation of Straighpath at $325M versus the $250M owed to the unsecured and bonholders and factor in what the bondholders have already received would leave about $100M for the shareholders or just north of $2 per share. I think the spectrum is worth far more and that will be seen in the next couple of years.