Replies to post #569 on School Specialty, Inc (fka SCHSQ)

[free_bee]

those high volume buys were on Thursday and Friday. Here they sign this document on Friday. Insider trading or not? They could buy they could sell and we all wonder!

[HokieHead]

Isn't this great news?

The Ad Hoc Amendment, among other things, (1) sets a new schedule of milestones, based on certain revisions to the schedule of hearings related to the Debtors’ previously filed voluntary petitions (the “Chapter 11 Cases”) in the United States Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”) seeking relief under the provisions of Chapter 11 of the United States Bankruptcy Code (the “Bankruptcy Code”); (2) authorizes additional borrowing in an aggregate principal amount of $10,000,000 as early as April 25, 2013 (earlier than the May 2013 dates specified in the original agreement).

[HokieHead]

On April 12, 2013, School Specialty, Inc. (the “Company”) and certain of its wholly-owned subsidiaries (collectively with the Company, the “Debtors”) executed amendments to the following agreements:

Volume on 4/11 - 2.2 million shares (up 93%)
Volume on 4/12 - 4.8 million shares (up 50%)

I'm thinking the timing was not a coincidence. Volume has gotten lower every day and it's still holding the .12-.13 area. One more day this week. Can tomorrow be a good one?

Looking forward to it..