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Steve Reinstadtler is a Managing General Partner at SR Capital Advisors, a New York-based private equity firm. The principals at SR Capital have been responsible for over $400 million in private equity investments and have consistently generated top quartile returns. In the course of conducting... More
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  • Follow Me On Twitter
    My "handle" is @reinstadtler - follow me for real-time notification of my posts on Seeking Alpha, including my reaction to today's WSJ article bashing CLWR.

    Disclosure: I am long CLWR.

    Tags: S
    Jan 31 4:02 PM | Link | Comment!
  • Clearwire Bids Farewell To The Short Sellers
    With CLWR's equity offering priced, the shorts are fleeing in droves - buying up exposure from participants in the offering and handing them a nice 5 -10% profit overnight.  Volume in the first half of the day is approaching 10x the daily average.  This clears the decks and bodes well for the longs going forward.  See more detail in my forthcoming article - just waiting for SA to post it. 
    Dec 08 12:30 PM | Link | Comment!
  • CLWR Holding Steady as Shorts Stay Away
    CLWR is up today after yesterday's announcement of a $300 million public offering that will be matched by Sprint.  I expect the deal to be priced soon at or above $2.25 per share.  As I noted in my recent article posted on SA, the shorts are staying away because the Company is close to getting fully-funded and the potential for a short squeeze is high.  This is yet another sign that the Company is on the road to recovery. 

    Also, Bloomberg reports that UBS put out a research note today estimating 33% dilution at $2 per share - they are using the wrong formula to calculate dilution - it's actually around 25%.  Nevertheless, UBS calls the equity offering "transformative" for the Company and maintains their "overweight" rating on the stock.

    See my latest article on SA (posted today) for more details and commentary on the offering and its implications.  SR

    Dec 06 11:43 AM | Link | Comment!
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