Originally Posted by
Sr. Barco
"Perseus has also agreed to serve as equity sponsor for Frontier's plan of reorganization, allowing Perseus to purchase 79.9% of the equity in the reorganized company for $100 million."
Does anyone else find that concerning? Does that mean Perseus will essentially own or control Frontier when the dust settles? Can anyone weigh in on that?
S.B.
Yes, it means that. It's the type of financing that you can't afford. Like borrowing more money from a loan shark than you know perfectly well you can't pay back.