Separately, the Company received a non-binding indication of
interest with a view toward entering into a definitive acquisition
transaction for the entire firm.
The non-binding indication of interest sets the enterprise value
of LECG at $104 million, on a cash free, debt free basis. This
implies a value of up to $1 for each outstanding share of common
stock after repayment of the Company's existing debt and redemption
of the Company's Series A Convertible Redeemable Preferred Stock.
Under the terms of the transaction contemplated by the indication
of interest, any additional indebtedness incurred by the Company
before the closing of the transaction will reduce the implied value
of common stock in the transaction. The Company may incur such
additional indebtedness to fund operations in the coming period
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XPRT
Posted by mikeovanes on 8th of Feb 2011 at 01:16 pm
Anyone have a clue why XPRT sold off big time on huge volume?
xprt
Posted by hazbin1 on 8th of Feb 2011 at 01:44 pm
Separately, the Company received a non-binding indication of interest with a view toward entering into a definitive acquisition transaction for the entire firm.
The non-binding indication of interest sets the enterprise value of LECG at $104 million, on a cash free, debt free basis. This implies a value of up to $1 for each outstanding share of common stock after repayment of the Company's existing debt and redemption of the Company's Series A Convertible Redeemable Preferred Stock. Under the terms of the transaction contemplated by the indication of interest, any additional indebtedness incurred by the Company before the closing of the transaction will reduce the implied value of common stock in the transaction. The Company may incur such additional indebtedness to fund operations in the coming period