More FMXLQ DD -
monda2frida pointed this out earlier this evening -
From the FMXLQ Filing dated March 31st-
"The aggregate purchase price under the Purchase Agreement is $105,000,000, payable in a combination of (i) $78,400,000 in cash and Purchaser’s assignment to Sellers of the indebtedness to Purchaser under the DIP Credit Agreement and (ii) by Purchaser’s assumption of certain liabilities of Sellers with an estimated value of $26,600,000. In addition, the Purchaser would assume certain other liabilities as set forth in the Purchase Agreement."
The O/S on this stock is 261 million thus the purchase price is $105 million / 261 million shares = 40 cents per share. The stock closed today at .025 and explains why the stock has been quietly moving up into breakout mode since the filing on March 31st and why no profit taking or shares seem to be coming out.
No PR was ever issued, if you did not read the filing then you never knew. The last time they filed BK all the shares remained intact and the stock shot up from penny land to $5 - $7 range according to the people who were around back then, perhaps it will do something similar if the purchase agreement is approved by the BK court???
Brad
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