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Re: None

Tuesday, 02/18/2020 2:32:02 PM

Tuesday, February 18, 2020 2:32:02 PM

Post# of 1043
anybody know what Symbol this is now trading at? NYSE has already said they are being delisted I can't find it yet?

Looks like they want to liquidate very fast.

Summary
Discussing key terms of "Plan Support Agreement"

Company has filed for chapter 11 and will pursue a court-supervised sale with bids due by late March and court confirmation expected by late April.

Secured $256 million in debtor-in-possession financing to provide sufficient liquidity until completion of the sales process.

Sales proceeds will likely be insufficient to cover creditor claims. As a result, equity holders need to prepare for being wiped-out.

The NYSE has already begun the process of delisting PIR from the NYSE and the company will likely commence trading on the Pink Sheets Market soon. In my opinion, investors should sell existing positions and move on.


---The Happy Trader

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