Multi- dollars? I doubt it, but it is foreseeable for it to run to the .60's to .90's IF retail collectively realized that they control the ASK at this point. With zero debt and $188M in cash I would say this is primed for a substantial increase.
On April 29, 2019, the Sellers and Buyer closed the transactions contemplated by the Asset Purchase Agreement (the “Closing”). The purchase price paid in the transactions consisted of cash of approximately $422 million, plus the payment of cure costs and the assumption of certain liabilities. The cash purchase price is subject to certain withholding requirements and adjustment after Closing. Of the total purchase price, $10 million was placed in escrow to secure any potential downward adjustment in the purchase price.
The Company used a portion of the proceeds to repay 100% of the outstanding principal and unpaid interest and fees due under both its Second Amended and Restated Credit Agreement, dated as of December 21, 2016, and its Senior Secured, Priming and Superpriority Debtor-in-Possession Credit Agreement, dated as of February 21, 2019. The total amount paid to the lenders, together with related costs and expenses, was approximately $234.6 million.
$422M - $234M = $188M
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