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Post by sportsrancho on Jan 12, 2017 9:56:55 GMT -5
According to the local Danbury news site (newstimes) there have been some layoffs and closings in the Danbury area of late. So, maybe it is a buyer's market in that area just now. unrelated? property is in CA and you cite Danbury Exactly, I was thinking what the heck? I can't believe they sold it for that! It was priced higher. And all prices are on the raise in CA. |
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Post by mnkdfann on Jan 12, 2017 10:01:49 GMT -5
My bad, I don't know geography!  I think you are right about the CA market. The sale price looks disappointing in that light. |
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Post by kbrion77 on Jan 12, 2017 10:03:48 GMT -5
unrelated? property is in CA and you cite Danbury Exactly, I was thinking what the heck? I can't believe they sold it for that! It was priced higher. And all prices are on the raise in CA. You don't think Rexford knew the situation MNKD is in? It was probably a take it or leave it offer. |
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Post by sportsrancho on Jan 12, 2017 10:08:18 GMT -5
Exactly, I was thinking what the heck? I can't believe they sold it for that! It was priced higher. And all prices are on the raise in CA. You don't think Rexford knew the situation MNKD is in? It was probably a take it or leave it offer. They should have waited. |
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Post by Deleted on Jan 12, 2017 10:09:10 GMT -5
Exactly, I was thinking what the heck? I can't believe they sold it for that! It was priced higher. And all prices are on the raise in CA. You don't think Rexford knew the situation MNKD is in? It was probably a take it or leave it offer. Thank you for some common sense Kbrion. |
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czap
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Post by czap on Jan 12, 2017 10:21:58 GMT -5
Keep in mind we also eliminate expenses contributed to that building
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Post by Deleted on Jan 12, 2017 10:24:14 GMT -5
Debt payoff? with only 150 million outstanding and an fda approved product, how difficult is it to raise another 150 million in debt offerings?
As of September 30, 2016, we had $222.5 - ( $70.3 million Sanofi ) = $152.2 million principal amount of outstanding debt, consisting of:
• $27.7 million principal amount of 2018 notes bearing interest at 5.75% per annum and maturing on August 15, 2018;
• $55.0 million principal amount of 2019 notes bearing interest at 9.75% per annum, $15.0 million of which is due and payable in July 2017, $15.0 million of which is due and payable in July 2018 and each $25.0 million of which is due and payable in July and December 2019;
• $20.0 million principal amount of Tranche B notes bearing interest at 8.75% per annum, $5.0 million of which is due and payable in each of May 2017, 2018 and 2019, and $5.0 million of which is due and payable in December 2019;
• $49.5 million principal amount of indebtedness under The Mann Group Loan Arrangement bearing interest at 5.84% and maturing and due on January 5, 2020;
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Post by patten1962 on Jan 12, 2017 10:29:30 GMT -5
Personally I love this, 17.5 mil plus you cut expenses keeping the building up.
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Post by kdaddyfresh2000 on Jan 12, 2017 10:30:21 GMT -5
I'll say it was a deal. Getting a $28 million list price (principal lot plus adjacent) for $17.3 million is some pretty good negotiation. Either that or MNKD was desperate to sell it. Either way, it's two months of runway they'll need. They were clearly desperate. It was obvious that this was going to happen. Any buyer would Mannkind they needed the cash like yesterday. The Sanofi settlement was just Sanofi recognizing it wasn't getting anything in a probable BK and pay the contractual out. Great negotiating skills. Now we cannot dispute Sanofi sabotage due to a settlement nondisparagement clause. Yes, these are the people who have been negotiating on our behalf for the past X years. When you're afraid to raise a stink, you have no leverage. Everyone knows that. Sad! |
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Post by kbrion77 on Jan 12, 2017 10:47:57 GMT -5
You don't think Rexford knew the situation MNKD is in? It was probably a take it or leave it offer. They should have waited. They need cash and everyone and their brother knows it. Just think if you were going to put in an offer for a house and the seller is carrying that mortgage and the mortgage of their new house, would you offer full price? |
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Post by patten1962 on Jan 12, 2017 10:49:26 GMT -5
17.5 million now. What does landscaping cost? Heat? Ac? Electric? Security? Taxes? So they get 25 or 30 million next year and spend x amount of $$$$ per month maintenance/maintaining this property! I have no idea the cost of maintaining this property. Anyone know? I am thrilled!!!I really think this is a very good thing!
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Post by cjm18 on Jan 12, 2017 11:33:33 GMT -5
Does this extend the runway or was the 3q17 runway as quoted in the last conference call include this sale?
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Post by nylefty on Jan 12, 2017 11:38:04 GMT -5
17.5 million now. What does landscaping cost? Heat? Ac? Electric? Security? Taxes? So they get 25 or 30 million next year and spend x amount of $$$$ per month maintenance/maintaining this property! I have no idea the cost of maintaining this property. Anyone know? I am thrilled!!!I really think this is a very good thing! 25 or 30 million next year? Where did you get that? In any case, I don't think we should assume that MannKind will be vacating the property. They could stay on as renters. |
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Post by Deleted on Jan 12, 2017 11:54:15 GMT -5
Does this extend the runway or was the 3q17 runway as quoted in the last conference call include this sale? including the building and they are still short. 30 mil + 17 mil + 1 mil gives them 48 mil so about 5 months? not sure if i am missing anything but there's 20 mil debt coming due mid year - ( which they have to extend if they dont have to cough up $$$$) |
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Post by patten1962 on Jan 12, 2017 11:55:28 GMT -5
17.5 million now. What does landscaping cost? Heat? Ac? Electric? Security? Taxes? So they get 25 or 30 million next year and spend x amount of $$$$ per month maintenance/maintaining this property! I have no idea the cost of maintaining this property. Anyone know? I am thrilled!!!I really think this is a very good thing! 25 or 30 million next year? Where did you get that? In any case, I don't think we should assume that MannKind will be vacating the property. They could stay on as renters. Some other posters had said they did not get enough money. |
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