Pilot05

I will pass..

This is great customer-focused company that I like, but perhaps a bad investment...

I am trying to get my head around the $250 mil they borrowed from Cyrus Capital and Virgin Group at 17% ( a Comenity credit card might have been cheaper), and secured by virtually all assets of the company. They borrowed this money in 2011 and 2013. I can't fathom why the rate had to be that high.
Anybody who agreed to pay 17% on a secured loan a year ago has some issues. they are only paying back a portion of it with the proceeds of this IPO. Paying it all off (or refinancing it at half the rate) is in the best interest of the company.

I also wouldn't mind hearing more about the $5 million in stock Cyrus is giving non-officer VX employees, which they are promptly selling - See info on selling shareholders . Though they likely deserve it, why are the employees getting this gift? why are they selling?

There appear to be a ton of warrants and options at prices between $1.50 -$10.00..Nice payday...This of course is not uncommon today, and does not make it a bad stock

Executive compensation looks pretty reasonable.