I'm wondering if the Section 13 exchange was for existing common, instead of preferred ?
The details aside, I continue to like the Riverwood financing event. I won't be surprised if another deal is done with a BDC. I don't like the issuance of preferred or common in exchange for such deals, but sometimes it is necessary to fund acquisitions.
With that said, I feel better right now about UGSI's future than I have in a long time - considering the scant information we all have to work with. I invest in a lot of biotech startups that usually have no drugs on the horizon for approval and usually little working capital - which requires periodic floating of new stock issues. My point is, I then think of the comparison of those risky companies with UGSI, that, it appears, is making some good money and has positive growth prospects. When put into that perspective, it is much easier to justify my continued buying of UGSI stock. ((Just don't tell my wife))
Just my opinion. Do your own DD.
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