AMTC - Ameritrans Capital Corporation
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  1. #1
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    AMTC - Ameritrans Capital Corporation

    AMTC spazio fino a 4$ ... ora siamo a 1,45 e abbiam rotto la resistenza







    Description
    Ameritrans Capital Corporation (Ameritrans) is a closed-end investment company, which makes loans and investments. Through its wholly owned subsidiary, Elk Associates Funding Corporation (Elk), the Company makes loans to finance the acquisition and operation of small businesses as permitted by the United States Small Business Administration (the SBA) regulations. Elk Capital Corporation (Elk Capital) is a wholly owned subsidiary of Ameritrans. As of June 30, 2010, Elk Capital had no operations. Ameritrans makes loans, which have been secured by real estate mortgages, senior corporate loans, life insurance settlements and equity investments. During the fiscal year ended June 30, 2010 (fiscal 2010), Elk had one wholly owned subsidiary: EAF Holding Corporation. The Company aggregate its business into five categories: Corporate Loans, Commercial Loans, Life Insurance Settlements, Equity Investments and Taxicab Medallion Finance.

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    According to the prospectus, the AMTCP participating pref stock has a feature that increases the par value of the issue (currently $12) if the company is sold at more than 120% of net asset value. It's unclear to me if this transaction counts as a "sale". It seems like it should be a sale with about 90% of the equity being bought. Yahoo finance lists the book value of the AMTC as being around $1 per share and 1.80 is more than 120% of this.

    Here's the link to the prospectus and the excerpt on the participating feature. I'm surprised that the pref has not moved up more given that with all this new capital, dividends should no longer be in doubt.

    http://www.sec.gov/Archives/edgar/data/1...


    Participation ............................ The "participating" nature of the
    Participating Preferred Stock will
    include a feature whereby if the
    Company is sold for an amount in
    excess of 120% of the per common
    share net asset value at the time of
    the sale (the "Excess Value"), then
    the value received by the holders of
    the Participating Preferred Stock
    will be increased by adding pro
    rata, to the $12.00 face value that
    percentage of the Excess Value that
    is equal to the percentage of the
    Company's total capital that is
    represented by the Participating
    Preferred Stock.

  3. #3
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    8:49AM Ameritrans Capital enters into definitive agreements with affiliate of Columbus Nova; Renova will initially purchase $25 million of shares of common stock of Ameritrans for the greater of $1.80 per share and the then-prevailing per share net asset value of Ameritrans (AMTC) 0.99 : Co announces that an affiliate of Columbus Nova, LLC, Renova US Holdings, has agreed to purchase a majority stake in Ameritrans Capital Corporation as part of a $65 million equity investment plan to enable the Company to grow its business of lending to middle-market companies. Pursuant to the definitive stock purchase agreement relating to the equity investment, Renova will initially purchase $25 million of shares of common stock of Ameritrans for the greater of $1.80 per share and the then-prevailing per share net asset value of Ameritrans. Following the closing of the initial equity investment, Renova will own ~80.3% of the Company's common equity on a pro forma basis. It is anticipated that subsequent to the investment the Company will effect a reverse stock split of ~10 shares to one new share.

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    nella pre open di oggi ha toccato anche 2,5 $

    Ameritrans Capital Corporation (AMTC) Pre-Market Trading

  5. #5
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    sto leggendo le news e ti dico

  6. #6
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    Citazione Originariamente Scritto da martins.c Visualizza Messaggio
    sto leggendo le news e ti dico
    aspetto tue news...

    singolare il fatto che in pre open abbia toccato addirittura 2,5 $

  7. #7
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    April 13 (Reuters) - Ameritrans Capital Corp (AMTC.O):
    * Enters into definitive agreements with affiliate of Columbus nova, llc
    * Says renova will initially purchase $25 million of shares of common stock of
    Ameritrans
    * Says announces up to $65 million equity investment by affiliates of Columbus
    nova
    * After renova makes this investment, CEO, CFO will continue in their current
    positions
    * Says renova is also committed to purchase an aggregate of $40 million of
    additional common stock
    * Anticipated that following investment co will effect a reverse stock split of
    about 10 shares to one new share
    * Says following the closing renova will own about 80.3% of the company's
    common equity on a pro forma basis.

    * Says affiliate of Columbus nova, renova US holdings, ltd, has agreed to
    purchase a majority stake in Ameritrans
    * Renova to purchase Ameritrans shares for greater of $1.80 per share and
    then-prevailing per share net asset value of co
    * Says will apply proceeds of initial closing for investment in its sbic
    subsidiary


    questo è il riassunto... per me quello che non piace al mercato è aumento di azione e reverse split 10 a 1

    non entro, troppo pericoloso

  8. #8
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    April 13 (Reuters) - Ameritrans Capital Corp (AMTC.O):
    * Enters into definitive agreements with affiliate of Columbus nova, llc
    * Says renova will initially purchase $25 million of shares of common stock of
    Ameritrans
    * Says announces up to $65 million equity investment by affiliates of Columbus
    nova
    * After renova makes this investment, CEO, CFO will continue in their current
    positions
    * Says renova is also committed to purchase an aggregate of $40 million of
    additional common stock
    * Anticipated that following investment co will effect a reverse stock split of
    about 10 shares to one new share
    * Says following the closing renova will own about 80.3% of the company's
    common equity on a pro forma basis.

    * Says affiliate of Columbus nova, renova US holdings, ltd, has agreed to
    purchase a majority stake in Ameritrans
    * Renova to purchase Ameritrans shares for greater of $1.80 per share and
    then-prevailing per share net asset value of co
    * Says will apply proceeds of initial closing for investment in its sbic
    subsidiary


    questo è il riassunto... per me quello che non piace al mercato è aumento di azione e reverse split 10 a 1

    non entro, troppo pericoloso
    graficamente però un balzo a 4 $ ci sta tutto , se chiude sopra 1,3 ha rotto la resistenza... e avrebbe la strada spianata

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    graficamente però un balzo a 4 $ ci sta tutto , se chiude sopra 1,3 ha rotto la resistenza... e avrebbe la strada spianata
    perchè andare a 4 $ se è stata valutata con gli assets ecc a 1,80???

    quello che stona è la diluizione che faranno ad un prezzo più alto, 1,80 apunto e poi subito il reverse split

  10. #10
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    perchè andare a 4 $ se è stata valutata con gli assets ecc a 1,80???

    quello che stona è la diluizione che faranno ad un prezzo più alto, 1,80 apunto e poi subito il reverse split
    infatti ho parlato di impostazione grafica per 4 $ ...

    poi se è stata valutata 1,8 $ è un altro conto...

    in tanto siamo a 1,3 ... e in pre open eravamo a 2,5 $

    magari nei prossimi giorni avremo una via di mezzo tra 2,5 e 1,8 ?

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