Falcone Signals Ambitious Plans For PTGi Holding Inc. With Name Change To HC2 Holdings
- PTGi Holding Inc. is changing its name to "HC2 Holdings Inc" (we believe this informally stands for Harbinger Capital 2). The name change confirms Falcone's ambitious plans for the entity.
- Falcone is assisting in the liquidation of his hedge fund (under supervision of an independent monitor), which contains many valuable assets that may be bought by HC2 at attractive prices.
- Financing for a transaction could come in the form of a rights offering, a share issuance, or a convert offering that allows for both cash and stock.