Originally Posted by
fosters
Close...$125 million in cash equated to $125 million in stock, not $250. 8.3 million shares @ $15/share. Out of that, the last time I looked, they still owned 3 million or so shares.
I thought they got double in stock what they gave in exit financing...but given what you've said I was mistaken.
According to SEC filings and Yahoo! Finance, Eastshore had 8.3m shares of LCC on 9/27/05 (when they emerged from BK) and sold 1m shares on 3/15/06...that still gives them 7.3m shares.