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During the IPO season Francis Gaskins, editor of IPOdesktop.com & director of research for Equities.com, regularly appears on CNBC TV, Bloomberg, thestreet.com & other financial cable channels. On the day of the Visa IPO he appeared on four cable TV financial shows including Bloomberg... More
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  • STR Holdings IPO -- solar components -- hint of desperation 0 comments
    Nov 4, 2009 7:30 PM | about stocks: STRI, FSLR, SPWR, ESLRQ, DSTI, ASTI, ENER, STP, CSIQ, SPIR, HOKUQ, GTAT
    STR Holdings (STRI) IPO, Components for Solar Power Systems, scheduled for Friday, Nov 6
    OBSERVATIONS
    • Use of $172mm in IPO Proceeds
    • Mostly to shareholders:  10mm of 12.3mm shares
    • Of the 2.3mm to company, 70% of company proceeds to repay debt & consulting termination fee
    • $240mm debt will remain on the balance sheet
    Operating results declining
    • Substantial declines in income statement results.  For the six months ended June 30, 2009 interest payments constituted 44% of operating income, and trending higher
    • Hint of desperation by selling shareholders
    This is the type of offering investors are starting to shun, in this market.  Appears overpriced, unless they are going to report an outstanding September quarter, which seems unlikely based on the six month trends

    read more in IPO report
    http://www.gaskinsco.com/linkto-stri.shtml
    Themes: IPO, IPOs Stocks: STRI, FSLR, SPWR, ESLRQ, DSTI, ASTI, ENER, STP, CSIQ, SPIR, HOKUQ, GTAT
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