twacowfca Posted March 20, 2014 Share Posted March 20, 2014 EVOQ is the renamed MMPI that was the subject of its Cpt 11 reorganization on this board about three years ago. It was interesting then because three PORs were in play and all retained substantial equity for the common. After a one for five reverse split, it's now trading for about seven times what we paid for our small position. They own a lot of downtown property in LA and have deleveraged somewhat. Now they have been put up for sale. Is the company likely worth more upon sale than the current market value? Link to comment Share on other sites More sharing options...
onyx1 Posted March 21, 2014 Share Posted March 21, 2014 I sold at 5x my cost on a small position. It was really hard to get a good handle on value as the the properties were mostly raw land and the financials were years late. That was 2011. Today, not much seems to have changed. Too hard. Link to comment Share on other sites More sharing options...
twacowfca Posted August 19, 2014 Author Share Posted August 19, 2014 They've accepted a take out offer for $12.00+ per share. This was the easiest no brainer ten bagger we have ever had. Three plans of reorganization being proffered to the US bankruptcy court judge four years ago. Any of those three plans would have delivered substantial equity back to the shareholders that was worth much more than the market cap of the stock in Cpt11. The decision to wait for the takeout offer was based on my ignorance. Knôwing that they were being shopped around in a rising market with valuable real estate holdings in LA, my educated guess was that they would get more than the current market value. :) Congratulations also to Onyx. A certain six bagger ain't no bad deal neither. ??? Does a quadruple negative make positive? ??? Link to comment Share on other sites More sharing options...
jrallen81 Posted August 22, 2014 Share Posted August 22, 2014 liquidity seems to have dried up so haven't been able to unload my stake. Does anyone know when the expected close is? Link to comment Share on other sites More sharing options...
Josh4580 Posted August 22, 2014 Share Posted August 22, 2014 They've accepted a take out offer for $12.00+ per share. This was the easiest no brainer ten bagger we have ever had. Three plans of reorganization being proffered to the US bankruptcy court judge four years ago. Any of those three plans would have delivered substantial equity back to the shareholders that was worth much more than the market cap of the stock in Cpt11. The decision to wait for the takeout offer was based on my ignorance. Knôwing that they were being shopped around in a rising market with valuable real estate holdings in LA, my educated guess was that they would get more than the current market value. :) Congratulations also to Onyx. A certain six bagger ain't no bad deal neither. ??? Does a quadruple negative make positive? ??? Twacowcfa, This was so obvious to me as well. These were my purchases in 2012. Bought 600 MMPI @ 2.27 Bought 500 MMPI @ 2.4 Bought 390 EVOQ @ 2.6 Unfortunately, I got clobbered on DIMEQ and lost a large % of my net worth. I was strapped for cash and had to sell my EVOQ for around $4.2. I basically got out of investing at the time as I needed money for rent and medical bills. Unfortunately I let go of some real gems such as these: Sold 300 YHOO @ 14.9614 Sold 250 YHOO @ 15.19 Sold 3000 BFCF @ 0.58 Sold 600 BFCF @ 0.58 BFCF i dont even know how much of a multi bagger it has been :( YHOO sitting at $38 now. However, I am back in the game and building up a new portfolio. I wish 2009 came back to us! Link to comment Share on other sites More sharing options...
jrallen81 Posted September 26, 2014 Share Posted September 26, 2014 I believe this one is supposed to get sold to another company for $12.96, and close in October. Some trades going off today between 12.10 and 12.65 -- with just a month to do that seems low. Any thoughts? Link to comment Share on other sites More sharing options...
AtlCDore Posted October 9, 2014 Share Posted October 9, 2014 Isn't this going to close by end of month? Any reason why the spread is this wide currently? Link to comment Share on other sites More sharing options...
Josh4580 Posted October 28, 2014 Share Posted October 28, 2014 Has anyone received their merger proceeds yet? My grandfather is reporting he only received $11.66 per share. I thought it was supposed to be $12.96 per share? Link to comment Share on other sites More sharing options...
twacowfca Posted October 28, 2014 Author Share Posted October 28, 2014 Josh4580, EVOQ sent out a “Notice of Merger and Appraisal Rights” document this past week. It stated that the “net merger consideration per share of Company Common Stock payable to EVOQ stockholders at the closing of the Merger is $11.63. Each holder of EVOQ common stock immediately prior to the effective time of the Merger shall also have the right to receive such holder’s pro rata interest of such escrowed consideration, if any, remaining following payment of any indemnification claims asserted by Parent pursuant to the Merger Agreement.” Your grandfather should have received this document. It was supposed to be mailed to all shareholders. We just received ours. Twacowfca Link to comment Share on other sites More sharing options...
Josh4580 Posted October 28, 2014 Share Posted October 28, 2014 Ok he did receive this. So what does this, "shall also have the right to receive such holder’s pro rata interest of such escrowed consideration, if any, remaining following payment of any indemnification claims asserted by Parent pursuant to the Merger Agreement.” mean? There will be another payment of the escrowed funds to shareholders? What are the indemnification claims? Link to comment Share on other sites More sharing options...
twacowfca Posted October 30, 2014 Author Share Posted October 30, 2014 Ok he did receive this. So what does this, "shall also have the right to receive such holder’s pro rata interest of such escrowed consideration, if any, remaining following payment of any indemnification claims asserted by Parent pursuant to the Merger Agreement.” mean? There will be another payment of the escrowed funds to shareholders? What are the indemnification claims? It is common for companies to hold back an amount during a merger to make sure that all liabilities are settled prior to giving a final distribution. The fourth paragraph of the document explains the different obligations that may have to be paid out of the escrowed amount. twacowfca Link to comment Share on other sites More sharing options...
Josh4580 Posted October 30, 2014 Share Posted October 30, 2014 Twa, Thanks for the help! Link to comment Share on other sites More sharing options...
Josh4580 Posted December 12, 2014 Share Posted December 12, 2014 Ok he did receive this. So what does this, "shall also have the right to receive such holder’s pro rata interest of such escrowed consideration, if any, remaining following payment of any indemnification claims asserted by Parent pursuant to the Merger Agreement.” mean? There will be another payment of the escrowed funds to shareholders? What are the indemnification claims? It is common for companies to hold back an amount during a merger to make sure that all liabilities are settled prior to giving a final distribution. The fourth paragraph of the document explains the different obligations that may have to be paid out of the escrowed amount. twacowfca twa, Have you received any final payment yet from EVOQ? If not, when do you expect this final payment? thanks Link to comment Share on other sites More sharing options...
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