Virgin America Latest and Greatest
11-05-2014, 03:36 PM
#1291
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Joined APC: Aug 2008
Posts: 180
Originally Posted by Bugaboo
Where do you get the 5M number from? I haven't read the filing very close....just skimmed through it. Didnt see mention of that number. I did see something about 1.75M or so shares being purchased by VA for an employee owned LLC...for 3M$ if my memory is correct. That was done around 4 years ago....I would imagine longevity will be factored into the IPO proceeds payout? If you don't know now you will know soon enough.
The 3M loan was forgiven.
So the 1.75M shares, divided by 7.2 (the reverse split), multiplied by the expected price around $23/share is about $5M.
11-05-2014, 10:15 PM
#1292
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Joined APC: May 2012
Position: Happy
Posts: 683
11-06-2014, 08:09 AM
#1293
Gets Weekends Off
Joined APC: Nov 2013
Position: Jet
Posts: 214
Originally Posted by jayme
You forgot about the reverse stock-split. Something like 7.2:1.
The 3M loan was forgiven.
So the 1.75M shares, divided by 7.2 (the reverse split), multiplied by the expected price around $23/share is about $5M.
The 3M loan was forgiven.
So the 1.75M shares, divided by 7.2 (the reverse split), multiplied by the expected price around $23/share is about $5M.
11-07-2014, 10:02 AM
#1294
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Joined APC: Apr 2011
Position: Upright & Breathing
Posts: 317
Originally Posted by Bugaboo
Yep....I did forget about that. Ouch. Hopefully you have been there for a while and they will factor in longevity with the company.
11-13-2014, 08:34 PM
#1297
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Joined APC: Jul 2009
Posts: 624
Originally Posted by jayme
You forgot about the reverse stock-split. Something like 7.2:1.
The 3M loan was forgiven.
So the 1.75M shares, divided by 7.2 (the reverse split), multiplied by the expected price around $23/share is about $5M.
The 3M loan was forgiven.
So the 1.75M shares, divided by 7.2 (the reverse split), multiplied by the expected price around $23/share is about $5M.
"VX Employee Holdings, LLC, a Virgin America employee ownership
vehicle that we consolidate for financial reporting purposes will sell
231,210 issued and outstanding shares as a selling stockholder, and
we will distribute the gross proceeds, which we estimate to be
$5.2 million, based on an assumed initial public offering price of
$22.50 per share (the midpoint of the price range set forth on the
cover of this prospectus), to eligible teammates, which do not include
our officers. We will pay the underwriting discounts and expenses of
VX Employee Holdings, LLC in this offering. We will not receive
any proceeds from the sale of shares by the selling stockholder in this
offering."
The LLC is SELLING shares as part of the IPO and the proceeds of the sale will be distributed.
11-13-2014, 10:26 PM
#1298
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Joined APC: Aug 2008
Posts: 180
Originally Posted by zoooropa
The split has nothing to do with it (you are actually doing the split backwards as there are 43 million shares outstanding after the offering). Nor does longevity or profitability.
"VX Employee Holdings, LLC, a Virgin America employee ownership
vehicle that we consolidate for financial reporting purposes will sell
231,210 issued and outstanding shares as a selling stockholder, and
we will distribute the gross proceeds, which we estimate to be
$5.2 million, based on an assumed initial public offering price of
$22.50 per share (the midpoint of the price range set forth on the
cover of this prospectus), to eligible teammates, which do not include
our officers. We will pay the underwriting discounts and expenses of
VX Employee Holdings, LLC in this offering. We will not receive
any proceeds from the sale of shares by the selling stockholder in this
offering."
The LLC is SELLING shares as part of the IPO and the proceeds of the sale will be distributed.
"VX Employee Holdings, LLC, a Virgin America employee ownership
vehicle that we consolidate for financial reporting purposes will sell
231,210 issued and outstanding shares as a selling stockholder, and
we will distribute the gross proceeds, which we estimate to be
$5.2 million, based on an assumed initial public offering price of
$22.50 per share (the midpoint of the price range set forth on the
cover of this prospectus), to eligible teammates, which do not include
our officers. We will pay the underwriting discounts and expenses of
VX Employee Holdings, LLC in this offering. We will not receive
any proceeds from the sale of shares by the selling stockholder in this
offering."
The LLC is SELLING shares as part of the IPO and the proceeds of the sale will be distributed.
The way I understand it is that there were MILLIONS of shares issued to the creditors, and that diluted the value of our shares to nearly nothing. At one point we owned about 12% of the company, and now we own less than 1%.
There were several steps involved. One of them was a 7.5:1 reverse split. I believe my response to Bugaboo was about that. He said we had about 1.75 million shares. After the reverse split we have about 231K shares.
11-14-2014, 04:56 AM
#1299
Gets Weekends Off
Joined APC: Jun 2006
Posts: 1,423
Originally Posted by jayme
I'm no financial wiz, but I can tell you with near certainty that we were wiped out.
The way I understand it is that there were MILLIONS of shares issued to the creditors, and that diluted the value of our shares to nearly nothing. At one point we owned about 12% of the company, and now we own less than 1%.
There were several steps involved. One of them was a 7.5:1 reverse split. I believe my response to Bugaboo was about that. He said we had about 1.75 million shares. After the reverse split we have about 231K shares.
The way I understand it is that there were MILLIONS of shares issued to the creditors, and that diluted the value of our shares to nearly nothing. At one point we owned about 12% of the company, and now we own less than 1%.
There were several steps involved. One of them was a 7.5:1 reverse split. I believe my response to Bugaboo was about that. He said we had about 1.75 million shares. After the reverse split we have about 231K shares.
What a douche!
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