|I have to wonder how true the chapter 11 financing is or if this is just a rumor to aid the shorts? I was showing over 20% of the float short, so I am skeptical.|
One would think they just need someone with deeper pockets in the industry, especially with all the government and telecom contracts they hold.
Down from $27 to $1 in the past year, so there's definitely as much fire as there is smoke. It looked like their C-Band asset was going to be worth close to $10 Billion but looks like only half of that is going to be reality due to the FCC's rulings.
If the enterprise value is closer to their total debt load, one would think a white knight is not unthinkable. They were looking to use Space-X to launch new satellites in 2022, I believe or maybe it was next year, I'll have to check.
Not sure anyone would want to touch this one but you never know....