… and in steps a savior who will be sending some of his assets to 'money heaven'* (because this investment is not going to go well for Mr Fredrikson).
This may be enough cash to get the company to the summer season; we'll have to see what's announced in the earnings call.
Article:
https://www.bloomberg.com/news/artic...ag-drops-offer
This will be a significant dilution of the stock so I don't think they'll be able to get away another secondary offering after this one. However, if this goes through, It will keep the airline operating for a while longer.
* Money heaven - I love that term; and have used it whenever I see malinvestments after reading the former Icelandic billionaire explaining where peoples' Icesave money went. Short article:
https://www.telegraph.co.uk/finance/...ey-heaven.html
I rank an investment in Norwegian Air as even worse than bitcoin, beanie babies, baseball cards, and tulips. It's been more than 175 years since '
Extraordinary Popular Delusions and the Madness of Crowds' was first published and the public still hasn't learned. PT Barnum was correct.
https://en.wikipedia.org/wiki/There%...n_every_minute