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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Spekulatius who wrote (48437)	6/25/2012 11:36:20 AM
From: E_K_S	Read Replies (1) \| Respond to of 78691

Re: GTAT I am not quite sure why they made the name change and then did a secondary offering. When the dust settled it looks like they have some notes due in 2013. From their 10K "...On August 8, 2011, we changed the name of the Company to GT Advanced Technologies Inc., and such change was effected pursuant to Section 253 of the Delaware General Corporation Law of the State of Delaware by the merger of a wholly-owned subsidiary of the Company into the Company. At the same time, we changed our NASDAQ stock ticker symbol to GTAT ..." In September 2010, the Company completed a secondary offering of 11,000 shares of common stock by GT Solar Holdings, LLC. At the same time the Company completed an additional secondary offering of 14,000 shares of common stock by GT Solar Holdings, LLC, such sale was made to UBS AG and UBS Securities LLC in connection with an offering by UBS AG of its Mandatorily Exchangeable Notes due 2013. --------------------------------------------------------------- Maybe it was a slick way to pull money out of the business. That $3.08/share in cash may already be obligated to pay off those exchangeable notes due in 2013. For me, just too many restructuring parts w/o a detailed explanation. I did notice that Jurgis Bekepuris started a position in GTAT 6/4/2012 w/ the stock priced in the low $4.00's. I will pass on this one too. EKS