TMA CEO has keep buying a couple of millions of its own companies shares around 10s with his own money. Sad to know he may lose all of his money. Hope his own home can be saved.
How come a CEO has such big misjudgement about its own company's status? This implies the hole is too big and insidious.
=======ZT====
Thornburg postpones prices of $1B offering to Monday: report
March 20, 2008: 06:57 PM EST
SAN FRANCISCO, Mar. 20, 2008 (Thomson Financial delivered by Newstex) -- Thornburg Mortgage Inc. (NYSE:TMA) postponed to Monday the pricing of its offering of $1 billion in convertible securities, according to a media report late Thursday.
The deal had been expected to sell Thursday, Dow Jones Newswires reported.
The failure of the offering would likely push the company into bankruptcy, the report said.
'We are continuing to work with large investors who have a lot of due-diligence questions, and therefore we've postponed our pricing until Monday while we work through this process with them,' company spokeswoman Suzanne O'Leary Lopez said, according to the report. 'Our lender agreements are still in place.'
Shares of Thornburg fell 25% to close at $1.13, then fell an additional 6% in after-hours trade.
Gabriel Madway
Copyright Thomson Financial News Limited 2007. All rights reserved.
The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News
How come a CEO has such big misjudgement about its own company's status? This implies the hole is too big and insidious.
=======ZT====
Thornburg postpones prices of $1B offering to Monday: report
March 20, 2008: 06:57 PM EST
SAN FRANCISCO, Mar. 20, 2008 (Thomson Financial delivered by Newstex) -- Thornburg Mortgage Inc. (NYSE:TMA) postponed to Monday the pricing of its offering of $1 billion in convertible securities, according to a media report late Thursday.
The deal had been expected to sell Thursday, Dow Jones Newswires reported.
The failure of the offering would likely push the company into bankruptcy, the report said.
'We are continuing to work with large investors who have a lot of due-diligence questions, and therefore we've postponed our pricing until Monday while we work through this process with them,' company spokeswoman Suzanne O'Leary Lopez said, according to the report. 'Our lender agreements are still in place.'
Shares of Thornburg fell 25% to close at $1.13, then fell an additional 6% in after-hours trade.
Gabriel Madway
Copyright Thomson Financial News Limited 2007. All rights reserved.
The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News
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