Thanks for the update. Fwiw, I think the warrants were given to the original lender group, not Jennifer straumin or maybe it was pro-rata. In any case, the new lender is definitely not anonymous, she's mentioned in the loan agreement.
I read the 8-K last night, they just referred to her as new lender. Thanks for the confirmation. If the warrants are to old lenders, red flag because of indication of future dilution. But if the former CEO of Calumet writes a $20 million personal check, huge green flag because she knows the industry well.
I still can't wrap my head around why she did this. Or at least what the implications are. Not sure if it's because the original lender group don't want to put in anymore money or maybe it's just a friendly nudge nudge from management.
It's the same terms so not like the company got anything good out of it. More than likely she just knows this is over collateralized piece of debt. If she was more friendly she would've just put in equity lol
Thanks for the update. Fwiw, I think the warrants were given to the original lender group, not Jennifer straumin or maybe it was pro-rata. In any case, the new lender is definitely not anonymous, she's mentioned in the loan agreement.
I read the 8-K last night, they just referred to her as new lender. Thanks for the confirmation. If the warrants are to old lenders, red flag because of indication of future dilution. But if the former CEO of Calumet writes a $20 million personal check, huge green flag because she knows the industry well.
I still can't wrap my head around why she did this. Or at least what the implications are. Not sure if it's because the original lender group don't want to put in anymore money or maybe it's just a friendly nudge nudge from management.
$20 million? I need friends like that
It's the same terms so not like the company got anything good out of it. More than likely she just knows this is over collateralized piece of debt. If she was more friendly she would've just put in equity lol