Opening Share Price Of Lcc?
- Thread starter usamuel
- Start date
usair_begins_with_u
Veteran
- Joined
- May 9, 2004
- Messages
- 623
- Reaction score
- 0
I'm hoping it opens high so I can get into some serious put contracts.. I've been saving up for this.
ClueByFour
Veteran
- Joined
- Aug 20, 2002
- Messages
- 3,566
- Reaction score
- 37
Bring on the shorts.
BoeingBoy
Veteran
- Joined
- Nov 9, 2003
- Messages
- 16,512
- Reaction score
- 5,865
Just some odds and ends for what they're worth.....
If memory serves, less than half of the "new" stock will be available for trade on the opening day. Someone correct me if my memory is taking the day off, but I believe the stock acquired by the outside investors requires a waiting period before it can be sold - 6 months comes to mind.
That remaining - 14 million shares for AWA class B holders, 0.5 million shares for AWA class A holdera (TPG), and 8.5 million for unsecured creditors - could be initially available for trade.
Any AWA class B holders who acquired their AWA shares for over about $6-$7 each paid roughly what the outside investors paid - $16-$17+ per share. So presumably they won't be anxious to unload at less than that.
I have no idea what TPG's plans are, but they won't have that many shares anyway.
The unsecured creditors is the wildcard group. Obviously, the more they get for their shares the more they get of what was owed them by US. So will they wait to try to maximize their return, or dump the shares as fast as possible to get cash. I suspect the senitment in this group pretty much runs the gamut.
One additional wildcard pertaining to the unsecured creditors. Quite a few have transferred their claims to one of two or three companies, presumably turning their claims into cash at a discount. Does this represent the sentiment of a significant portion of the unsecured creditors? I have no idea.
Finally, one other wildcard - the PBGC who is the largest unsecured creditor and will get 70% of the "new" stock going to the group. I would guess that, as with any government agency, they won't move at lightning speed so that huge chunk of the stock probably won't be available for trade on day 1.
Jim
If memory serves, less than half of the "new" stock will be available for trade on the opening day. Someone correct me if my memory is taking the day off, but I believe the stock acquired by the outside investors requires a waiting period before it can be sold - 6 months comes to mind.
That remaining - 14 million shares for AWA class B holders, 0.5 million shares for AWA class A holdera (TPG), and 8.5 million for unsecured creditors - could be initially available for trade.
Any AWA class B holders who acquired their AWA shares for over about $6-$7 each paid roughly what the outside investors paid - $16-$17+ per share. So presumably they won't be anxious to unload at less than that.
I have no idea what TPG's plans are, but they won't have that many shares anyway.
The unsecured creditors is the wildcard group. Obviously, the more they get for their shares the more they get of what was owed them by US. So will they wait to try to maximize their return, or dump the shares as fast as possible to get cash. I suspect the senitment in this group pretty much runs the gamut.
One additional wildcard pertaining to the unsecured creditors. Quite a few have transferred their claims to one of two or three companies, presumably turning their claims into cash at a discount. Does this represent the sentiment of a significant portion of the unsecured creditors? I have no idea.
Finally, one other wildcard - the PBGC who is the largest unsecured creditor and will get 70% of the "new" stock going to the group. I would guess that, as with any government agency, they won't move at lightning speed so that huge chunk of the stock probably won't be available for trade on day 1.
Jim
USA320Pilot
Veteran
- Joined
- May 18, 2003
- Messages
- 8,175
- Reaction score
- 1,539
According to CBS.MW, "The merger is expected to officially close at 12:01 a.m. Tuesday morning. When US Airways shares start trading on Tuesday as 'LCC' on the New York Stock Exchange (NYSE), the combined US Airways and America West will make its Wall Street debut."
Doug Parker, Bill Pollock, and many LGA-based employees will ring the opening bell at the NYSE tomorrow.
The LGA day-1 party will be held at gates 11 and 12 between 11:00 am and 4:00 pm -- come join us.
Regards,
USA320Pilot
Doug Parker, Bill Pollock, and many LGA-based employees will ring the opening bell at the NYSE tomorrow.
The LGA day-1 party will be held at gates 11 and 12 between 11:00 am and 4:00 pm -- come join us.
Regards,
USA320Pilot
EricLv2Fish
Veteran
- Joined
- Aug 25, 2005
- Messages
- 1,171
- Reaction score
- 5
etops1 said:
etops we are having celebrations in Phoenix too. I've been asked to help cook up some breakfast/lunch tomorrow as part of the celebrations. Swing by the maintenance hanger and meet some of us if you can. Not sure what shift I've been asked to cook for, but I think I'll be helping out for about 12 or so hours to probably cover two shifts.
Well technicaly speaking if someone knew of the opening price and posted it they would be committing a Federal crime. But, current holder will get .412 of new LCC for their old AWA stock.usamuel said:
Starts trading on tommorrows floor...
EricLv2Fish
Veteran
- Joined
- Aug 25, 2005
- Messages
- 1,171
- Reaction score
- 5
Here is the opening value:
Open 21.05 as of 9:34 AM EDT
Right on the money Jim!
Open 21.05 as of 9:34 AM EDT
Right on the money Jim!
BoeingBoy
Veteran
- Joined
- Nov 9, 2003
- Messages
- 16,512
- Reaction score
- 5,865
Thanks, Eric, but it really wasn't a forecast so I can't take any credit. As I said in another thread, it wa just the pure math of the AWA close yesterday adjusted for the stock conversion factor.
As I said above, "Whether that says anything about what LCC will trade at tomorrow is beyond me....."
Jim
As I said above, "Whether that says anything about what LCC will trade at tomorrow is beyond me....."
Jim
tahitigirl
Senior
- Joined
- Aug 19, 2005
- Messages
- 416
- Reaction score
- 0
What does that mean? I've been watching the stock today and seems to be doing OK.
