Excellent, in my opinion.
Some will, I am sure, complain about the discount to the current price, but...
(1) Capital Guardian is a great institutional name,
(2) The pricing formula clearly states it was a prior period average, not a discount to the market, and
(3) The company's financing risk, one of the principal risk factors in the stock, has been substantially reduced, if not eliminated.
My own guess is that these funds will carry the company to cash flow breakeven, which should be either in Q1 or Q2 calendar quarter...
As a long who remains with all his holdings, I am quite pleased and do not intend to sell around these levels. |
