If A Deal Falls In A Forest.....
I don't have time to probe the Timberland 10-K in depth. I think I have enough information - I have to wait for the 10-Q (due in mid-May) for more relevant data. An anonymous reply says about Timberland:
"It might be hard to sell stock in a black box. That's almost six months without pertinant (sic) financial data."
This is a perfect summation. This deal needs to raise substantial equity over the next six months just to keep its one property, and its current run rate is not encouraging. Timberland has become a high risk, high leverage, speculative investment. The investors and advisors that look to Wells do not, generally, look for high risk, high leverage, speculative investments.
3 comments:
It amazes me that they can continue to raise capital in large amounts.
Raising money has always been Wells' strong point. I don't suspect Wells is selling the deal as speculative.
They issued an 8-k recently: $67 mil. raised (vs. $38 mil. as of Dec. 31), 63.7 mil. shares remain.
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