tag:blogger.com,1999:blog-1258103573769454363.post5070936444084030210..comments2023-07-31T09:52:40.934-05:00Comments on Dyslexic Research: Arbitrage OpportunityMechanicMatthttp://www.blogger.com/profile/15152303348930160051noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-1258103573769454363.post-65320960731451154552009-12-15T09:02:38.187-06:002009-12-15T09:02:38.187-06:00Well, I took a gamble and lost. DISK defaulted on ...Well, I took a gamble and lost. DISK defaulted on it's loans today and it looks to me like BK is just down the road.<br /><br />Sold my entire position a few minutes ago at $0.26/share for a loss of about $850.00.Guzzohttp://guzzothecontrarian.comnoreply@blogger.comtag:blogger.com,1999:blog-1258103573769454363.post-28719224384479043602009-04-25T18:23:00.000-05:002009-04-25T18:23:00.000-05:00It looks like a lot of arb players bailed out Frid...It looks like a lot of arb players bailed out Friday afternoon, but I'm still holding.<br /><br />I think it was a smart move for Image to nix (pun intended) the merger agreement. No one is mentioning that Image walked away from the deal with $2.5 million in cash, for free!<br /><br />Because the deal was called off, arbs have cut their losses and moved on to other opportunities. Ironically, the stock is now trading at $0.89 per share even though the company is in a better position than it was before the merger agreement.<br /><br />No big deal IMO. There's no law that says Image can't enter into another agreement, and perhaps with someone who <I>can</I> come up with the financing.Michael Guzzohttps://www.blogger.com/profile/11254136338110431422noreply@blogger.comtag:blogger.com,1999:blog-1258103573769454363.post-66868103384840055282009-04-20T10:50:00.000-05:002009-04-20T10:50:00.000-05:00Well, it looks like we DON'T have a merger. Accord...Well, it looks like we DON'T have a merger. According to <A HREF="http://finance.yahoo.com/news/Image-Entertainment-bw-14964740.html?.v=1" REL="nofollow">Yahoo! Finance</A>:<br /><br /><I>CHATSWORTH, Calif.--(BUSINESS WIRE)--Image Entertainment, Inc. (NASDAQ:DISK - News), a leading independent licensee, producer and distributor of home entertainment programming in North America, announced today that it has notified Nyx Acquisitions, Inc., an affiliate of Q-Black, LLC, that due to Nyx’s failure to pay an additional $1.0 million to Image as required by the merger agreement, Image Entertainment has terminated the merger agreement.<br /><br />Jeff Framer, President of Image Entertainment, said, “Despite Image’s willingness to close the merger, Nyx was unable to finance the transaction.<br /></I>This is the risk one takes with trying to play an arbitrage opportunity.<br /><br />If it's any consolation, I've made money in the past from deals that fell through. But, it won't happen today. Let's see what happens.Michael Guzzohttps://www.blogger.com/profile/11254136338110431422noreply@blogger.comtag:blogger.com,1999:blog-1258103573769454363.post-9952980875276602442009-04-05T20:36:00.000-05:002009-04-05T20:36:00.000-05:00Another good short-term arb play for a small, but ...Another good short-term arb play for a small, but pretty certain, gain would be En Pointe Technologies (<A HREF="http://finance.yahoo.com/q?s=enpt" REL="nofollow">ENPT</A>).Michael Guzzohttps://www.blogger.com/profile/11254136338110431422noreply@blogger.com