Incorrect rebels,

Not only did we sell half the company for a measely $172M, but wait.....coming soon.....a further credit facility to top up the shortfall........extending a lender a first lien against this newly provided equity.....I estimate this amount to be at least 50-100M....think about it for second, and see how ridiculous the entire transaction is.......

Step 1: Sell half the company

Step 2: Get a new banking syndicate to provide $XXXX credit (fill-in the blank)

Step 3: Give the new lender a first lien to our assets and equity

Can't you see this is a DOUBLE whammy not just shares for cash, BUT shares for cash and debt and first lien.....

I can't believe that 5 months ago we had the $200M and were told that the then banking syndicate terms and conditions were unreasonable.......I'm sure they didn't ask for 1/2 the company...

Plain and simple, we went backwards, with less cash in our jeans, more shareholders, and wait for it....more debt coming soon....

Booster

( geez, I would have felt better if they said they issued shares to buyout all Senior notes for $250M (42% of $600M notes)....now that would have been a better sell to us shareholders than the present scenerio)