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Thread: Would now be a good time to buy OWENQ

  1. Default Would now be a good time to buy OWENQ

    Not in my oppinion. In just a week or two all the shares of this stock will be wiped out and all your shares worthless. This in hence is why there is so much selling right now. Everyones tryin to dump it.

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    What recovery will existing shareholders receive?
    Existing holders of Owens Corning common stock (which will be cancelled upon emergence) will receive warrants to purchase 5 percent of the fully diluted shares of the reorganized company, assuming exercise of all warrants but ignoring management options, at an exercise price of $45.25 per share. The warrants can be exercised within seven years of the effective date. What this means is that existing shareholders have the right purchase shares of new Owens Corning [diluted] stock at any point in the next seven years for $45.25 regardless of the price at which the stock is trading.
    What is a warrant?

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    A warrant gives the party it was awarded to the right to buy a specific amount of securities at a specific price €“ called a strike price €“ within a specified timeframe. The warrant's exercise price usually is above the current market price at the time of issuance. In the case that the price of the security rises above that of the warrant's exercise price, then the holder of the warrant can buy the security at the warrant's exercise price and resell it for a profit. In our case, existing shareholders will have warrants to buy stock at a strike price of $45.25 for seven years. That means if the new Owens Corning stock trades above $45.25, these warrants will have real economic value. Otherwise, the warrant will simply expire or remain unused.
    Can you explain the variations in the existing stock price?

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    The current trading in the company's stock is not related, in our view, to the underlying financial performance of the company. Rather it appears that there is substantial speculative activity as to the total enterprise value, level of future asbestos claims and efforts in Washington, DC to pass legislation to deal with asbestos litigation. In addition, speculators opening and closing short positions have also exacerbated the short-term price volatility. Investing in any company that has filed a Chapter 11 Bankruptcy petition is risky, and anyone considering such an investment should obtain sophisticated financial advice.
    Do you recommend the purchase or sale of stock?

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    The U.S. securities laws specifically prohibit management from giving investment advice. You should always consult a financial advisor before making any investment decisions.
    When will Owens Corning's new stock begin to trade?
    At some point following our emergence, we anticipate that Owens Corning's stock will once again be traded on a major stock exchange. The time for such a listing has not yet been determined.
    On which exchange will Owens Corning list?
    We have not made that decision yet.

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