Strategic Asset Leasing Inc (fka LEAS)

[trader59]

Looks like the common shareholders have elected to redeem their stock, leaving the coffers bare. If you look on page F-17, it says the common stock subject to redemption as of 12-31-23 was valued at $18,564,656. That’s down nearly $100M from the IPO, gone. Then on page F-24, you see 1,739,776 additional shares elected to redeem, so that’ll wipe out nearly all of the cash. That’ll leave about 3.5M or so shares outstanding, most all of them insider shares, no cash, with dilution of 6M shares coming if they close the merger.
RWOD is toast.