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Post by it2012 on Jun 19, 2013 17:11:57 GMT -5
There is 2 billion extra fat here.
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Post by Admin on Jun 19, 2013 17:18:51 GMT -5
Oh yea?
Where you read this?
SBG
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Post by Admin on Jun 19, 2013 19:52:53 GMT -5
ARE YOU FULL OF SHIT, OR IS THERE SOME TRUTH TO THIS STATEMENT?
Dont make up things!
SBG
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Post by forkodak on Jun 19, 2013 23:13:22 GMT -5
No clue but just using math.... Since 34 million(shares) * $11.94 = 405.96 million <><><> is the same as 15% of new Kodak then new Kodak would be worth 2.7064 billion... below from bloomberg story "The creditors, GSO Capital Partners, BlueMountain Capital, George Karfunkel, United Equities Group and Contrarian Capital, have agreed to backstop the rights offering of 34 million shares of common stock for $11.94 a share, according to the statement. The backstop commitment needs to be approved by the U.S. bankruptcy judge in Manhattan, Kodak said. Proceeds of the offering will be used to pay Kodak’s second-lien creditors, who won’t receive equity under the revised reorganization plan, the company said. Kodak’s committee of unsecured creditors is supporting the backstop commitment and rights offering, according to the statement. " www.bloomberg.com/news/2013-06-19/kodak-seeks-court-approval-for-406-million-rights-offering-1-.html?cmpid=yhoo
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Post by Deleted on Jun 20, 2013 5:55:54 GMT -5
No clue but just using math.... Since 34 million(shares) * $11.94 = 405.96 million <><><> is the same as 15% of new Kodak then new Kodak would be worth 2.7064 billion... below from bloomberg story "The creditors, GSO Capital Partners, BlueMountain Capital, George Karfunkel, United Equities Group and Contrarian Capital, have agreed to backstop the rights offering of 34 million shares of common stock for $11.94 a share, according to the statement. The backstop commitment needs to be approved by the U.S. bankruptcy judge in Manhattan, Kodak said. Proceeds of the offering will be used to pay Kodak’s second-lien creditors, who won’t receive equity under the revised reorganization plan, the company said. Kodak’s committee of unsecured creditors is supporting the backstop commitment and rights offering, according to the statement. " www.bloomberg.com/news/2013-06-19/kodak-seeks-court-approval-for-406-million-rights-offering-1-.html?cmpid=yhooYour math is not correct.
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Post by it2012 on Jun 20, 2013 8:27:00 GMT -5
ARE YOU FULL OF SHIT, OR IS THERE SOME TRUTH TO THIS STATEMENT? Dont make up things! SBG It was in one of the dockets filed by the attorney for unsecured creditors. It was a letter from the attorney to the judge. Just give me some time to dig the docket.
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Post by it2012 on Jun 20, 2013 8:37:31 GMT -5
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Post by it2012 on Jun 20, 2013 8:48:36 GMT -5
the following is from the same doc ( I had to type it since the doc is an image), "It is extremely important to note that, despite its level of debt and negative tangible net worth, as of today's date, the market values of the total outstanding common shares of Graphic Packaging at approximately 2.7 Billion - ironically roughly the value of the amount currently owed to Kodak's unsecured creditors. As such, Wall street appears to be valuing Graphic Packaging based on its current and future revenue and cash-flow, rather than merely on its balance sheet characteristics."
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