Looks like I didn't figure the % correctly.
If you take the fee 1,867,250 and divide it by the number of shares X $5.5 you get the 7%.
What I did was include the proceeds that the warrants will provide when they are converted. Perhaps HOM is paying a fee at conversion as well... I don't know.
None of this has much bearing on the price of the stock. Now the market will decide if it will continue to pay the high multiple it has in the past or if the stock should go for a lower multiple as is currently the case. It will be difficult to get the premium back where it was because of all the fear and doubt that has taken place. To Len's point, most investors will not try to fight it and just look elsewhere for an opportunity. Myself, I got really lucky... I bought at $1.63 and sold at 10+. Bought again at $6.15 and sold at $8+. I'm back in at $6.75 and just may have to give some of it back! My portfolio has done really good this year and most of it is due to HOM. I will admit that I had way too much at risk with the amount I was holding. Anyway, I'm looking for a good earnings report and a decent price bounce. I don't usually trade like this... I'm not good at it.
Dick Milde
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