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SCO and Baystar Strike a Deal

Posted by michael on from the know-when-to-fold-em dept.

comforteagle writes "As you'll no doubt recall, SCO financier wanted to cash-in on its stock because of how SCO was being run. It appears they've struck a deal. 'The SCO Group, Inc. today announced it has entered into an agreement with BayStar Capital II LP to repurchase and retire all 40,000 shares of Series A-1 Convertible Preferred Stock currently held by BayStar.'" Summary: Baystar and the Royal Bank of Canada invested $50 million in SCO in October 2003. In 6 1/2 months, they've now converted their investment to $13 million in cash and $13.7 million of common stock, for a loss of almost half their investment.

7 of 336 comments (clear)

  1. first post by Anonymous Coward · · Score: -1, Offtopic

    tsop tsrif

  2. you are all suckers by Anonymous Coward · · Score: -1, Offtopic

    i like to pet the leather couches

  3. Suck it, Linux Tards by Anonymous Coward · · Score: -1, Offtopic

    The SCO Group, up +1.34 +60.09%

  4. Same lesson for VA Software? by Anonymous Coward · · Score: -1, Offtopic

    ...or is it a different lesson?

    http://finance.yahoo.com/q/bc?t=1y&s=LNUX

    6-1/2 months, down over 50%.

    14-Nov-03 $4.78
    01-Jun-04 $2.32

    What's good for the goose....

  5. Not bad, but... by Anonymous Coward · · Score: -1, Offtopic

    M$ can do a lot better, because they have much more money in the bank.

    Imagine having $50 BILLION and losing half. Now that's big business...

    Those small change guys... *snap*

    Tsc, tsc...

  6. groklaw is down by timelady · · Score: 0, Offtopic

    damn, just when i want some REASONED analysis of this, groklaw is having php grumbles...

    --
    Nothing - well thats something.
  7. Obligatory by ErichTheWebGuy · · Score: 1, Offtopic

    - All your stock are belong to us

    --
    bash: rtfm: command not found