Looks like the deal has hit a snag, or Chaudhuri has found other financing and SPCP is out. Wonder if he'll have to buy them out at 7 cents (or more) before he can move on a refinance/restructure to get to final. (IMO) It just got more messy. SIERA numbers make me step back.
"SPCP and the Chaudhuri Shareholders are no longer pursuing SPCP's financing of the Proposed Share Acquisition by the Chaudhuri Affiliate pursuant to the Chaudhuri Loan. Consequently, SPCP and the Chaudhuri Shareholders have ceased discussions regarding such financing and other transactions related thereto."
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.