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Non-Tech : Restoration Hardware - (RSTO)
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To: peter michaelson who wrote (54)3/22/2001 2:06:38 PM
From: Glenn Petersen  Read Replies (1) of 76
 
If I am not mistaken, the private placement was for $15 million. If the convertible price is $2, that would add an additional 7.5 million shares. My guess is that the private placement would not have happened without the new CEO coming on board. The market certainly likes the news. While I like the stores, I have always had concerns about their gross margins. When the same store comps started declining, I assumed that they were a good candidate for a Chapter 11 reorganization. If it slides back down to $3, I might pick some up and tuck it away. Before that, however, I would like to see a few more details on the financing.
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