The merger closed yesterday and I received proceeds from the equity and debt today.
The equity I had purchases between $9-11/share. My first stake in the company was back in Q4-2012!
From my debt purchase at 90.5 at the end of June 2016 to 13 months later, resulted in a capital gain of 13.1% plus the 7.6% current yield, made for a 20.7% CAGR investment on a senior secured debt, first in line, on a cash flow positive entity. I’ll miss you.
Thanks for the great blog. Learning a ton.
If you’re looking for post ideas, can you give your thoughts on EIF (Exchange Income Corporation)
Thanks so much for your blog. One of my favourite reads.
@Michael: I did look at them some time back (before this short selling report came out) and decided at that time that, at existing prices, I would not invest in their equity or debt. I don’t see anything to change that opinion at present.