School Specialty, Inc (fka SCHSQ)

[HokieHead]

Great catch/find. I'm not an expert but I tend to agree. Someone loaded a ton of shares on the cheap knowing that the commons are going to be fought for and have value in the end. Even a small percentage of the new SSI will make these shares very valuable.

Throwing some numbers out there, say SSI should be valued at 1x sales or around $750 million. It traded at $35 a few years ago?

$750 million market cap x 5% of new SSI = $37.5 million

$37.5 million value (SCHSQ shares) / 20 million oustanding = $1.87 PPS

That's giving the commons only a 5% stake in the new company and giving the new SSI a market cap at about 1x sales.

Someone correct me if I'm wrong...