SCO and Baystar Strike a Deal

Posted by michael on Tuesday June 1, 2004 @10:47AM 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.

1 of 336 comments (clear)

Min score:

Reason:

Sort:

Re:Actually a little less than half... by ackthpt · 2004-06-01 11:02 · Score: 1, Troll

ince I've taken my money from RBC to another bank, mostly due to their involvment w/SCO.

Their (even bigger) loss.
Ok, be honest now, how much was it? $20?

--

A feeling of having made the same mistake before: Deja Foobar