Originally Posted by
BoilerUP
I thought they got double in stock what they gave in exit financing...but given what you've said I was mistaken.
No, 8,333,333 x $15/share = $125 million.
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.
Look up "Richard Bartlett". He is the director of Eastshore.
8-Feb-07 *20,000 LCC Sale at $58.25 - $58.63 per share.
7-Feb-07 *80,000 LCC Sale at $58 - $58.34 per share.
6-Feb-07 *176,800 LCC Sale at $58 - $58.32 per share.
6-Feb-07 *83,200 LCC Sale at $58.33 - $58.68 per share.
23-Oct-06 *300,000 LCC Automatic Sale at $50 - $50.4 per share.
20-Oct-06 *700,000 LCC Automatic Sale at $49.73 - $50.2 per share.
5-Jun-06 *3,050,000 LCC Sale at $45.20 per share.
+ 1,000,000 sold under Eastshore...
Makes a grand total of 5,410,000 shares sold.
To further my point, look here:
http://www.gurufocus.com/InsiderBuy....lett+Richard+A
And look at the "shares owned after trade" under Richard Bartlett.
It's exactly 2,923,333, or Eastshore's original 8,333,333 shares awarded minus the Eastshore and Bartlett trades.
Another point:
http://yahoo.brand.edgar-online.com/...Xni&ID=4717113
Look on the right hand side of the table, under #7 - "Nature of Indirect Beneficial Ownership". Who are Bartlett's shares benefiting? Why, Eastshore Aviation LLC.
Here's a bio on Mr. Bartlett.
http://www.forbes.com/finance/mktgui...rsonId=1106379