Regent Communications Inc (fka RGCIQ)

[The Rainmaker]

RGCIQ-keys: shareholders are supposed to get .13 per share cash and stock gets canceled. So your down side risk is .13......Resilient Capital's proposed valuation numbers get shareholders closer to 83 cents per share

Trying to get shareholders more than .13 per share. Asking for one of those shareholder committee's like WAMUQ did. News was out today didn't hit RGCIQ's ticker so no one found it yet.

Under the proposed plan, general unsecured claims would be paid in full but existing equity would be canceled. Existing equity holders would receive their pro rata share of $5.5 million (approximately 13 cents per share), which is characterized as a "gift" because the debtors assert that existing equity is out of the money.

Utilizing Oppenheimer's valuation of Regent resulted in a net asset value of negative $50 million available for common shareholders. However, Resilient Capital's proposed modifications to Oppenheimer's methodology would result in a net asset value of $36 million (or approximately 83 cents per share).