To pay off long term debt. Sounds like the bankers do not want to renew at a favorable rate.
Probably did not believe Bernie's comment about the no impairment to Good Will. He said it twice on the conference call which is always a reason for a healthy suspicion. Comment sense is that if you can a third of your workforce some portion of the good will goes with them... ie no one if left who knows how sheet really works!
Look for a stock pounding tomorrow
"So what?" Well if they don't have cash to service their debt bad things happen. That's what.
So what
Maybe they are getting desperate for cash?
... Referring to the comment of watching stupid in action... so rather then stick with the offering back in September when the stock price was higher in a desperate attempt they do an offering now when share price is lower... Someone explain the sense in that
I like where you head is at (original poster), and you're right; but it's actually 80M shares... so half a billion dollars..
Given the depressed share price, this sounds like desperate measures.