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Message: Re: NITE, summed up--- Disco
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Aug 05, 2012 11:33AM
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Aug 06, 2012 10:03AM

Aug 06, 2012 12:03PM

Currently about $3.15. Obviously not looking to get rich but maybe I can make some cigarette money. I don't smoke but have you seen the price of cigarettes?

In the news:

"The Jersey City, N.J., company told regulators in a filing Monday that it had entered into a "securities purchase agreement" on Aug. 6, selling $400 million worth of 2% convertible preferred stock in itself to a group of investors. Those securities will be convertible into about 267 million shares of Knight common stock at about $1.50 a share. Knight currently has about 89 million shares outstanding. "

Doesn't say when those securities can be converted but it could be a windfall for those investors even if the current price holds. l'll dilute the hell out of the common stock, though. If the company survives it will take years to recover to it's pre-screw up status. I don't have that long. I'll sell for a few hundred bucks. :>)


Aug 06, 2012 01:38PM
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Aug 06, 2012 02:32PM
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