The new S-4 filing - Change of terms (and my comments/conclusion)

  1. Am I right in thinking that it isn't BBBY deciding to add these changes into the deal, but instead would be coming directly from the negotiating bondholder who wishes to have these things added in???

  2. Completely awesome write up. I can definitely see negotiations happening and this is the reason especially with the small changes.

  3. Much appreciated mate!๐Ÿ‘ŒVery reasonable conclusions given the changes that were made. Still like the stonk! Sounds like it's time to shift the accumulation into overdrive! ๐Ÿš€

  4. There are plenty of executives that have huge egos or chips on their shoulders thinking they need to prove themselves.

  5. From the bottom of my heart, I thank you, sir, for the time and effort you put into this research and post. Gives me hope for the future.

  6. Excellent tit jacking material seriously, this was an incredibly well researched writeup. Thanks!

  7. The fact that the fundamentals for the bond exchange are unchanged (i.e., equity price, bond interest rates, etc.) sounds like it's NOT a case of BBBY needing to "sweeten the pot".

  8. Going private does not trigger a share recall. Shorts are cash settled for the buyout price per share (see: Twitter)

  9. To OP: Wonderful and terminally boring job. In you're opinion, if the company is sold soon, like January or February, and the stock price is near the present stock price, what is the new buyer (JC or Ichan presumably) likely to offer? If the offer is, say, $7.00 or under, is the management likely to accept?

  10. Nowhere near $7. I mean, they had revenue of less than $10B two years ago. Then they went and did some highly regarded things such as wrong awful inventory mix, idiotic share repurchasing when their revenue loss hadn't stabilized,they were late expanding their e-commerce and they did their own crappy brands that few wanted (like 12 brands LOL).

  11. 400 mil eh? So do these notes allow the ability of Baby to be sold without having to pay back all the bonds at par first? I know the ABL was tied into it somehow as well.

  12. Imagine, AAโ€˜s shithouse spiked to around 70 with nearly 5.5 bn debts in summer 21โ€ฆ now whos fudding with us, motherfuckers? We will literally exolode !

  13. Curious timing to complete these bondholder agreements positioning for acquirement around the 2 year anniversary of the sneeze.

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