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Old 11-19-2003, 04:33 PM   #16
thexmdabster
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Default Sirius Logic

The quarter is either going really good for sirius or really bad(let's assume either one).

If the quarter is going awesome, would you raise money now, or wait until after you announced your great results and got a pop in the stock price.


If the quarter is going terribly awry, would you wait until after the quarter was over to raise money or would you do it now?

You have 500 million in the bank, would you make a deal for factory installs now and pay now, and then do the secondary or would you do the secondary first, and then do the deal.
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Old 11-19-2003, 04:42 PM   #17
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Default Re: Sirius Logic

Quote:
Originally Posted by thexmdabster
The quarter is either going really good for sirius or really bad(let's assume either one).

If the quarter is going awesome, would you raise money now, or wait until after you announced your great results and got a pop in the stock price.


If the quarter is going terribly awry, would you wait until after the quarter was over to raise money or would you do it now?

You have 500 million in the bank, would you make a deal for factory installs now and pay now, and then do the secondary or would you do the secondary first, and then do the deal.
I feel that Sirius is going to have a good quarter compared to their last one. Given that, it would be a good move to get the money now...they can then follow it up by good PR in a month and stockholders will be happy that PPS is going up and that the dilution was put to good use.

At the same time if they are expecting a bad quarter and subs arent coming in then it might be good to get the money now before the bad news...

Impossible to say. All I know is that I have a sub, and from what I can hear, they need to focus on:

1) Marketing
2) OEMs

They are already getting a huge boost in customers with all the free equipment deals, rebates etc. I feel that those deals will only really show their effect this quarter.

Oh well... 160 mill... hope it's going to some good use.
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Old 11-19-2003, 07:52 PM   #18
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Default Sirius prices stock offer at $2.10 a share

NEW YORK, Nov 19, 2003 /PRNewswire-FirstCall via Comtex/ -- SIRIUS (SIRI), known for delivering the very best in commercial-free music and premium broadcast entertainment to cars and homes across the country, today announced that it priced an offering of 73,170,732 shares of common stock at a price to the public of $2.10 per share.

(Logo: http://www.newscom.com/cgi-bin/prnh/19991118/NYTH125 )

The offering, underwritten by UBS Warburg LLC, is expected to close on Monday, November 24th. SIRIUS intends to use the net proceeds from the offering of approximately $150 million for general corporate purposes, including investments in programming and retail and automotive distribution.

As part of the offering, the company granted UBS Securities LLC an over-allotment option to purchase an additional 10,975,610 shares. The common stock issued in conjunction with this offering will be covered by the company's shelf registration statement.
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Old 11-19-2003, 09:53 PM   #19
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Default move

4th QTR should tell it all.
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Old 11-19-2003, 10:02 PM   #20
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Default dilute

If they're going to cut anybody they gotta get rid of the dog. I mean, what does a dumb mutt have to do with satallites anyway. They need something about space or space ships. I hate dogs.
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Old 11-19-2003, 10:06 PM   #21
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Default Re: dilute

Quote:
Originally Posted by Trap
If they're going to cut anybody they gotta get rid of the dog. I mean, what does a dumb mutt have to do with satallites anyway. They need something about space or space ships. I hate dogs.
Because Sirius is known as the "Dog Star"
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Old 11-19-2003, 10:06 PM   #22
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Default Re: dilute

Quote:
Originally Posted by Trap
If they're going to cut anybody they gotta get rid of the dog. I mean, what does a dumb mutt have to do with satallites anyway. They need something about space or space ships. I hate dogs.


Apparently you aren't up to date on your astro history. The is Sirius, the brightest star in the constellation Canis Major.

During the summer months (the dog days of summer), Sirius is the brightest star in the night sky.

Perfect fit and a killer logo if you ask me.

Jeff
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Old 11-19-2003, 10:48 PM   #23
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Yeah, don't mess with Mongo!

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Old 11-20-2003, 09:18 AM   #24
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Default dog

Jeff: Nope, I'm not into astrology or the stars but I know now. Thanks. I still hate dogs.

:\
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Old 11-20-2003, 09:51 PM   #25
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Taken from the prospectus:

Quote:
Use of proceeds.............................. We intend to use the net proceeds of this offering for general corporate purposes, including investments in programming and retail and automotive distribution. We believe we are in advanced stages of negotiations for certain significant distribution and programming agreements. These agreements, which we believe would be beneficial to our business, are likely to require us to make material cash payments, both initially and over time, and to award significant equity-based consideration, which may be dilutive to our common stockholders. We cannot assure you that we will successfully conclude any of these negotiations or that we will derive any long term benefit from the agreements that may result.
http://www.sec.gov/Archives/edgar/da...-03-004987.txt
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Old 11-21-2003, 12:28 PM   #26
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"We BELIEVE we are in advanced stages of negotiations..."

BELIEVE? Either they are or they are not!

Management better not come out next week and say...woops, we thought we were in advanced stages of negotiations but we were wrong.
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Old 11-21-2003, 12:49 PM   #27
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They use language such as "We Believe" because the other side in the negotiation could have a totally different idea. It's probably one of those legal things.
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Old 11-21-2003, 05:02 PM   #28
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Default

Quote:
Originally Posted by satradfan
"We BELIEVE we are in advanced stages of negotiations..."

BELIEVE? Either they are or they are not!

Management better not come out next week and say...woops, we thought we were in advanced stages of negotiations but we were wrong.
I have used the word "believe" in negotiations before. When I used that word, I meant that I have offered everything I am going to offer and the ball is in your court. Other words, take it or leave it.

I'm not saying that is what Sirius is saying.


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Old 11-22-2003, 09:53 AM   #29
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On the subject of outsourcing: One very important function that both Sirius and XM outsource is flying the satellites. I believe that both also outsource their telephone call centers.
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Old 11-22-2003, 04:19 PM   #30
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Satellites don't fly, they orbit. That is all done from a control center, I beleive, so there is no need to "outsource" it. If you are referring to launching the sats, Sirius are Radio companies, not Satellite Launching services, so of course they would outsource that aspect of the business.
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