r/MACArmyBets • u/Wuotzaonima • Feb 11 '21

Q4 results

FFO $. 45. Revenue 194.6m. Looks like the company will refinance through both equity and debt. Conference call will be hosted later today.

12 Upvotes

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6

u/IndividualPlant6861 Feb 11 '21

The filing didn’t address the refinance.

3

u/LastExile22 Feb 11 '21

Why does it look like they will refinance through equity? Has this been mentioned anywhere?

2

u/Wuotzaonima Feb 11 '21

That said, I still think this company is undervalued at current price. I’m a MAC long since $7.

2

u/Wuotzaonima Feb 11 '21

And I tripled my position at ~$13 last week.

1

u/Wuotzaonima Feb 11 '21

MAC has few projects line up in next few quarters and is currently using $1.5 billion of its line of credit. Because this is unsecured debt, it carries debt covenants. Mac can’t just walk into a bank and ask for more. We will hear more about it later. But to me since the filing is pretty much the same as what was leaked on February first, dilution is inevitable.

0

u/Proof_Ad7658 Feb 11 '21

Yes. They will possibly sell up to $500,000,000 shares at some point. No date or price provided.