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Non-Tech : Income Investing
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To: Privately who wrote (52060)11/11/2025 3:01:36 PM
From: kgr1137   of 52115
 
Re: I bought some of this one after hours for $23.62.

The company did a massive equity issuance earlier this year which was used to pay off most of the Series A 11% preferred. That was a huge drain on the company cash flow and obstacle to profitability. It is now GAAP profitable and 2.5-3x off its post-equity issuance lows.

I didn't mean to suggest an 8.75% coupon was commensurate for the company risk, but I didn't buy it anywhere near par or near $6 for that matter. It's definitely not your average retiree's holding :-)
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