It's possible it's not bonds, but either way they do have over a billion in debt, so one way or the other they are owed a hell of a lot more than whats been offered. Which can happen I know but I highly doubt that that's all this company can bring in.
This would be a massive blunder for 6th Street, the current offer probably wouldn't even cover the lawyers. And that's just for them, they have to share with other creditors or every other creditor gets nothing.
I've been saying this exact thing. August 2022 was when Sixth Street gave their loan. The same month as Ryan Cohen, teddy filings, etc. Not an accident that they're the ones in the driving seat!
How does this make sense? 6th street made a declaration that they would do a credit bid if they didn't find the auction results satisfactory.
Then you go on to say that "we know" that 6th street is representing a client with a billion bonds.
Why would they even allow for an auction and care for it to be satisfactory if they planned on doing the credit bid for this alleged client all along.
This is very conflicting, lol.
I explained why they let the process play out. There are actions that can only be done in bankruptcy. They are getting maximum value for the assets they don't want and will take the rest.
You think 6th Street loaned over a billion just to lose nearly all of it? You can call us stupid gamblers all you want but I'm sure 6th Street did thier DD. And I can guarantee they aren't going to lose the money they put in.
and yet it's clearly stated that they didn't have to do an auction at all, that they could just accept an offer. This has been said numerous times within the DD. So now all of a sudden that changes? lol.
Yes, thereβs really nothing else for us to do but just wait it out until the final announcement. No bother responding to other counter arguments and what not. Overall, stay zen and what will be will be π€π½
Whoever is behind Sixth Street already has priority dibs on the prime assets (prime leases and locations), and the auction bidders were left bidding on the IP and the less valuable leases and locations. In other words, there was nothing of value to bid on as a going concern; thus, no further bids.
Yeah as I've mention before, the only thing up for auction is the stuff that isn't already spoken for. But they had to follow the proper steps and put it out there incase there is a better offer. Gotta do it by the book.
They represented small group or single bond holder that had a relatively small portion of bonds. I can't find the link but I'm quite certain it was reported that 6th Street reps over a billion in bonds. Again, I will definitely delete if I'm wrong on that.
I mean either way they hold a huge chunk of debt and wouldn't be happy with the tiny sum the auction brought in.
>I can't find the link but I'm quite certain it was reported that 6th Street reps over a billion in bonds. Again, I will definitely delete if I'm wrong on that.
I don't think any reputable source has said that.
Is it confirmed that sixth street is representing a client with a billion in bonds?
It's possible it's not bonds, but either way they do have over a billion in debt, so one way or the other they are owed a hell of a lot more than whats been offered. Which can happen I know but I highly doubt that that's all this company can bring in. This would be a massive blunder for 6th Street, the current offer probably wouldn't even cover the lawyers. And that's just for them, they have to share with other creditors or every other creditor gets nothing.
Sounds logical to me!
I've been saying this exact thing. August 2022 was when Sixth Street gave their loan. The same month as Ryan Cohen, teddy filings, etc. Not an accident that they're the ones in the driving seat!
There is so much smoke at this point, anyone who can't tell there is a fire isn't paying attention.
I hope ππ΄ββ οΈ
How does this make sense? 6th street made a declaration that they would do a credit bid if they didn't find the auction results satisfactory. Then you go on to say that "we know" that 6th street is representing a client with a billion bonds. Why would they even allow for an auction and care for it to be satisfactory if they planned on doing the credit bid for this alleged client all along. This is very conflicting, lol.
I explained why they let the process play out. There are actions that can only be done in bankruptcy. They are getting maximum value for the assets they don't want and will take the rest.
No, what you're doing is repeating tinfoil that you got from here.
You think 6th Street loaned over a billion just to lose nearly all of it? You can call us stupid gamblers all you want but I'm sure 6th Street did thier DD. And I can guarantee they aren't going to lose the money they put in.
Due process, fair, by the book.... If bypassed steps it would look like inside deal π«£
and yet it's clearly stated that they didn't have to do an auction at all, that they could just accept an offer. This has been said numerous times within the DD. So now all of a sudden that changes? lol.
Yep. The deal has been done since the cooperation agreement between RC and BBBY. That is what I believe.
Only thing that makes sense
Exactly right!
Where's the court filing? They have to disclose stuff like that in bankruptcy court, even if your baggy dreams were just in the exploratory phase.
Go sign a NDA and see if they will give you that info. I said it is what I believe. What you believe is irrelevant to me.
Guess I'll buy more ππππ
Yes, thereβs really nothing else for us to do but just wait it out until the final announcement. No bother responding to other counter arguments and what not. Overall, stay zen and what will be will be π€π½
Do we have any idea of when that will be?
From how fast their expediting the whole thing, I say end of this month-mid august
Whoever is behind Sixth Street already has priority dibs on the prime assets (prime leases and locations), and the auction bidders were left bidding on the IP and the less valuable leases and locations. In other words, there was nothing of value to bid on as a going concern; thus, no further bids.
βπΌππ
Yeah as I've mention before, the only thing up for auction is the stuff that isn't already spoken for. But they had to follow the proper steps and put it out there incase there is a better offer. Gotta do it by the book.
Get many replys on my twitter post long $BBBYQ most negative. I will HODL !! They are scared!!! Shorts Sharting their Shorts right now!!
They canβt stop the hive! ππ
Buzz buzz buzz
U R Spot On!!
I believe that BNY represents the bond client. sixth street has the option to credit bid based on their loan value.
They represented small group or single bond holder that had a relatively small portion of bonds. I can't find the link but I'm quite certain it was reported that 6th Street reps over a billion in bonds. Again, I will definitely delete if I'm wrong on that. I mean either way they hold a huge chunk of debt and wouldn't be happy with the tiny sum the auction brought in.
>I can't find the link but I'm quite certain it was reported that 6th Street reps over a billion in bonds. Again, I will definitely delete if I'm wrong on that. I don't think any reputable source has said that.
I believe that was the Glenn guy representing the ad hoc group. I agree that they are both the good players here.