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Thursday, September 13, 2018 4:07:45 PM
I think it is fair to presume that if EK had been able to secure investors and other funding to compete the purchase, the purchase would have closed a long time ago. I think he's pumped the well dry, but that's just my opinion. At this point, the additional accumulation of operating losses have probably put the deal underwater from remainco's perspective, and EK/Overland/Tandberg are damaged goods. It's up to CCP/Freidheim to act on how they prefer to expose or conceal the trainwreck to their private investors.
A good friend who was sometimes a banker once told me that the more you owe a bank, the more you have the bank by the bells. In this case, the bank is Freidheim & Cos. off-shore bank, and EK is, uh, holding the sack.
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