| Author | Message | ||
| Kevin Butler (Challenge)
Junior Member Username: Challenge Post Number: 171 Registered: 9-2002 |
I, like Dave, had similar questions right before I single-handedly turned Chrysler around. Then I used some napkins to sketch what would become the framework for what we now call the Internet. go beat your chest somewhere else...let's talk Ferraris | ||
| Greg (Greg512tr)
Junior Member Username: Greg512tr Post Number: 137 Registered: 2-2002 |
Probably wont have that much free time as he is CEO of two companies while still "working his magic" in his day job and driving one of his UNIMOG campers around the world. | ||
| Taek-Ho Kwon (Stickanddice)
Intermediate Member Username: Stickanddice Post Number: 1188 Registered: 11-2002 |
Dave, Do you have a couple of hundred hours free so we can scratch the surface on this topic?  Cheers | ||
| Peter (Bubba)
Member Username: Bubba Post Number: 441 Registered: 5-2002 |
I think Dave is trying to see if this type of financing is feasible. I think he wants to make sure he gets paid for his work! | ||
| Greg (Greg512tr)
Junior Member Username: Greg512tr Post Number: 136 Registered: 2-2002 |
Dave Wapinski = Tony Roberts? I see some similarities | ||
| John Ashburne (Jashburne)
New member Username: Jashburne Post Number: 29 Registered: 9-2002 |
Convertible notes (bonds paying an interest coupon and with a maturity date, but with an option for the holder to convert into shares of stock at a set conversion price) are very popular for riskier companies who want to reduce their borrowing costs. Notice the 3% coupon on this issue when even high investment grade companies might be paying 6% or more for a 5 year note. The reason an investor would take that reduced rate is because of the convertibility feature that provides an "upside" if things go really well (i.e. the stock price goes up more than 35%, which is the conversion price as a premium over today's stock price). If things go only "okay" the investor still gets a coupon payment and a repayment of the investment at maturity. So the issuer raises capital at a lower interest rate and the investor has some downside protection while still being able to participate in some upside reward. What WAS your question? | ||
| Faisal Khan (Tvrfreak)
Member Username: Tvrfreak Post Number: 262 Registered: 3-2003 |
Dave, sounds like they are trying to raise 170 million, and it sounds like you can save companies that much. So, why don't you just work for them, instead of trying to hype their stock here by pretending to be interested in a "discussion"??? | ||
| Byron (Bmyth)
Member Username: Bmyth Post Number: 798 Registered: 10-2002 |
Seriously off-topic. | ||
| Dave (Maranelloman)
Intermediate Member Username: Maranelloman Post Number: 2025 Registered: 1-2002 |
Dave, I'm sorry: what's your question? | ||
| Dave Wapinski (Davewapinski)
Member Username: Davewapinski Post Number: 552 Registered: 8-2001 |
I am always interested in money, the flow of money, and how it works. How typical is the following? What is good about it and what is bad about it? Is it normally easy to get funding like this? My brief background: I have a background in management, computers, and photography to include film/video making. Around 1990 I was called a scientific and technicial photographer, but was actually leading computer development teams, doing project management, and leading data analysis teams at the top secret labs at Dugway Proving Ground. My teams did things with computers that no one else in the free world could do. In order to do more, became interested in document/knowledge management. A good example of what this can do is the Bellagio Casino/hotel in Las Vegas. When they first opened they did the complete hiring process for about 6,000 workers in 60 calander days. When I became interested, I was already into large databases like Oracle. Later got involved in interfacing document/knowledge management with programs like SAP and JD Edwards. Not only can I make businesses run better, but can also enable businesses to get products faster to market than their competitors. Also better control their information for drug companies, governments, financial institutions, large retailors, oil companies, car manufacturers, etc. If I can devise a system where a drug company can get FDA approval six months to a year faster and that drug makes $200,000,000 a year in profit, then that is of some value. This is who I am currently working my magic for. Was curious about this financing since I know little of this area. NPS Pharmaceuticals Announces Pricing of $170 Million Convertible Debt Offering 6/11/2003 8:31:00 PM SALT LAKE CITY, June 11 /PRNewswire-FirstCall/ -- NPS Pharmaceuticals, Inc. (Nasdaq: NPSP) announced today that it has agreed to privately place $170 million aggregate principal amount of its Convertible Notes due 2008. These Notes will be convertible into NPS common stock at a conversion rate of 27.3336 shares per $1,000 principal amount of notes (reflecting a premium of 35%, relative to the NASDAQ closing price for NPS common stock of $27.10 on June 11, 2003), and will bear interest at a rate of 3.0% per annum. The company has granted the initial purchasers of the Notes a 30-day option to purchase an additional $22 million principal amount of the Notes. The placement of the notes is expected to close on June 17, 2003. NPS expects to use the net proceeds of the offering for general corporate purposes. The holders of the Notes may require NPS to redeem their Notes upon the occurrence of certain events, and NPS may elect to redeem the Notes beginning June 20, 2006. The redemption price for any redemption of the Notes is 100% of principal amount, plus accrued interest. The offering is being made by means of an offering memorandum to qualified institutional buyers pursuant to Rule 144A of the Securities Act of 1933, as amended. The Notes and common stock issuable upon conversion of the Notes have not been registered under the Securities Act of 1933, as amended, or applicable state securities laws, and unless so registered, may not be offered or sold in the United States, except pursuant to an applicable exemption from the registration requirements of the Securities Act of 1933, as amended, and applicable state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy the Notes. This press release is being issued pursuant to and in accordance with Rule 135c under the Securities Act of 1933, as amended. Cautionary Statement For The Purpose Of The "Safe Harbor" Provisions Of The Private Securities Litigation Reform Act Of 1995 This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and beliefs and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Therefore, actual outcomes and results may differ materially from what is expressed herein. A description of those risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements can be found in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the most recent fiscal year and any amendments thereto, our Quarterly Reports on Form 10-Q, and any Current Reports on Form 8-K. NPS is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements whether as a result of new information, future events or otherwise. |