Invest-in-America
1 주 전
VATE (& @WLGS): Indeed, about VATE!!! (Early today, I almost posted --- what you see below here --- to VATE's Board, because I too was astonished as to the impossible spectrum of STUFF & THINGS that VATE does!!)
"Industry, Construction & Engineering:
Innovate Corp. is a diversified holding company. The Company has a portfolio of subsidiaries in a variety of operating segments. Its segments include Infrastructure (DBMG), Life Sciences (Pansend), and Spectrum. DBM Global Inc. (DBMG) is a fully integrated construction company offering both construction and professional services primarily through its core subsidiaries. It provides services, including design-assist, modularization, fabrication and erection of structural steel, heavy steel plate, trusses and girders, heavy equipment installation, as well as facility services for maintenance and shutdowns. DBMG manufactures pressure vessels, strainers, filters, and separators. Life Sciences segment is comprised of Pansend Life Sciences, LLC, which is focused on supporting healthcare and biotechnology product development. Spectrum segment is comprised of HC2 Broadcasting Holdings Inc. and its subsidiaries. It owns and operates broadcast television stations throughout the United States. Headquarters, 295 MADISON AVENUE, 12TH FLOOR, New York, NY"
Invest-in-America
1 주 전
VATE: See latest 'CHART' on this cute little PUSSY-Cat, below!!
"Hey, Pres. Trumpster, ya wanna join me in my VATE stock Short-SQUEEZE play, Homeboy!!?? Heck, that old PornHub hooker, Stormy Daniels, ain't got nothing on ME, Trumpster Dude!! And lastly, there's OTHER stuff a Presidential STUD like you can go DRILLING for --- besides silly Gas, Oil, & Coal, Dude!! No PUNS intended, Commander-&-Trumpy, Sir!!"
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downthehatch
4 월 전
VATE finally making it's move upward, after months of sub-par performance.
Bought some this week around $4, hoping that the rally continues.
It should- earnings last QUARTER, split-adjusted, were $1/share.
Yes, that's right, split adjusted, the earnings for the last quarter were $1. That implies a P/E ratio of 1, if they can continue to be profitable.
downthehatch
6 월 전
So, VATE management seems to have mastered poor timing on the reverse stock split.
Why they scheduled the stock split to take effect the day after releasing earnigns makes no sense to me.
Had the stock split taken place Aug 2, as originally announced, the split adjusted earnings would have come in at $1.00 a share, for the quarter, for a stock trading at around $5/ share.
As it was done, the earnings show as .10/share on August 8, but that is before the 1:10 reverse split, that took effect after the close on 8-8, which certainly causes confusion. Just stupid, IMO.
But the satock does look like a screaming buy at $4.50/share, with quarterly earnings at $1/share. And this is before apporval of the kidney monitoring system they have been working to get through the FDA process for several years. Once that clears, they should have a huge bump in earnings and interest.
Trading now at annualized 1x earnings-- just crazy cheap.
Enterprising Investor
4 년 전
HC2 Holdings Announces Closing of Rights Offering (11/25/20)
NEW YORK, Nov. 25, 2020 (GLOBE NEWSWIRE) -- HC2 Holdings, Inc. (“HC2” or the “Company”) (NYSE: HCHC), a diversified holding company, announced today the closing of its successful rights offering, which expired at 5:00 p.m., New York City time, on November 20, 2020. Pursuant to the terms of the rights offering, 13,979,674 shares of common stock are being purchased pursuant to the exercise of basic subscription rights and 2,763,148 shares of common stock are being purchased under the over-subscription privilege.
In addition, in accordance with the Investment Agreement entered into by the Company with Lancer Capital LLC (“Lancer Capital”), an investment fund led by Avram Glazer, the Chairman of the Board of Directors of the Company and the Company’s largest stockholder, Lancer Capital partially backstopped the rights offering in the amount of $21,433,793.53 by purchasing Series B Non-Voting Convertible Participating Preferred Stock, par value $0.001 per share (the “preferred stock”), excluding $5,560,000 previously purchased. Concurrently with the closing of the rights offering, Lancer Capital converted all of its shares of preferred stock into 11,891,539 shares of common stock (the “conversion”).
In the aggregate, the Company is issuing 28,634,361 new shares of common stock at the subscription price of $2.27 per whole share for total gross proceeds of approximately $65 million to the Company, which includes shares of common stock issued to Lancer Capital pursuant to the conversion. After giving effect to the rights offering and the conversion, the Company will have 76,586,573 shares of common stock issued and outstanding.
HC2 expects to use the proceeds from the rights offering for general corporate purposes, including debt service and for working capital.
Investors who have participated in the rights offering should expect to see the shares of common stock issued to them in uncertificated book-entry form. Any excess subscription payments received by Computershare Trust Company, N.A. (the "subscription agent") will be returned by the subscription agent to investors, without interest or deduction, through the same method by which they participated in the rights offering.
The rights offering was made pursuant to HC2’s effective shelf registration statement on Form S-3, filed with the SEC on September 9, 2020, and a prospectus supplement containing the detailed terms of the rights offering filed with the SEC on October 7, 2020. This press release shall not constitute an offer to sell or a solicitation of an offer to buy the securities, nor shall there be any offer, solicitation or sale of the securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful under the securities laws of such state or jurisdiction. The rights offering was made only by means of a prospectus and a related prospectus supplement, copies of which were distributed to all eligible stockholders as of October 2, 2020 on or about October 7, 2020 and may also be obtained free of charge at the website maintained by the SEC at www.sec.gov or by contacting the information agent for the rights offering.
About HC2
HC2 Holdings, Inc. is a publicly traded (NYSE:HCHC) diversified holding company, which seeks opportunities to acquire and grow businesses that can generate long-term sustainable free cash flow and attractive returns in order to maximize value for all stakeholders. HC2 has a diverse array of operating subsidiaries across multiple reportable segments, including Infrastructure, Clean Energy, Life Sciences, Spectrum, Insurance and Other. HC2’s largest operating subsidiary is DBM Global Inc., a family of companies providing fully integrated structural and steel construction services. Founded in 1994, HC2 is headquartered in New York, New York.
https://www.globenewswire.com/news-release/2020/11/25/2134116/0/en/HC2-Holdings-Announces-Closing-of-Rights-Offering.html