RBAK ist ja jetzt wieder billig
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| Neuester Beitrag: | 22.01.04 18:03 | von: Jimmy61 | Leser gesamt: | 6.730 |
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hier ein paar Neuigkeiten über Redback:
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Redback Networks Successfully Completes Plan of Reorganization
SAN JOSE, Calif.--(BUSINESS WIRE)--Jan. 5, 2004--
Company Exits from Chapter 11 with a Significantly Improved
Balance Sheet and Reduced Operational Expense Model
Redback Networks Inc.(NASDAQ-NMS:RBAK) (Nasdaq:RBAKD), a leading provider of broadband networking systems, today announced that its plan of reorganization as confirmed by the U.S. Bankruptcy Court for the District of Delaware on December 19, 2003 became effective at 6:00 PM Pacific Time on January 2, 2004, and it has exited from Chapter 11.
"Redback Networks has emerged as a powerful, new company with the products, technologies, partnerships and customers of a well-established firm," said Kevin DeNuccio, president and chief executive officer of Redback Networks. "We successfully completed the crucial step of financial restructuring in near record time and are now free to more confidently compete in the dynamic, growing market for strategic broadband infrastructure."
Redback Networks filed its financial restructuring plan on November 3, as a "pre-packaged" plan for "fast track" approval by the court. The court confirmed it 49 days later, on December 19, 2003. During the Chapter 11 process, the company has maintained all of its normal business operations seamlessly and without interruption. This schedule meets with NASDAQ's listing requirements, which include confirmation of the plan of reorganization by December 23, 2003 and emergence from bankruptcy by January 6, 2004, and now Redback Networks will face NASDAQ's minimum bid price conditions. The company's ticker symbol will include a "D" for the next ten trading days to indicate it has executed a reverse stock split as a part of its financial restructuring.
This major step in the restructuring process comes at an opportune time, as the importance of DSL in the product portfolio of service providers is on the rise, and many major carriers around the world are currently contemplating their next-generation broadband DSL network architectures. Redback has eliminated approximately $467 million of its existing debt and has eliminated $44M in annual expenses from its expense model, resulting in a stronger financial model between revenue and expenses. This financial restructuring gives Redback the ability to address the long-term needs of existing and potential customers and to participate fully in these new market growth opportunities.
About Redback Networks
Redback Networks Inc.(NASDAQ-NMS:RBAK) enables carriers and service providers to build profitable next-generation broadband networks. The company's User Intelligent Networks(TM) product portfolio includes the industry-leading SMS(TM) family of subscriber management systems, and the SmartEdge(R) Router and Service Gateway platforms, as well as a comprehensive User-to-Network operating system software, and a set of network provisioning and management software.
Founded in 1996 and headquartered in San Jose, Calif., with sales and technical support centers located worldwide, Redback Networks maintains a growing and global customer base of more than 500 carriers and service providers, including major local exchange carriers (LECs), inter-exchange carriers (IXCs), PTTs and service providers.
Note to Editors: Please see separate press release today regarding Redback's new equity investment.
REDBACK and SmartEdge are trademarks registered at the U.S. Patent and Trademark Office and in other countries. SMS and User Intelligent Networks are trademarks or service marks of Redback Networks Inc.(NASDAQ-NMS:RBAK) All other products or services mentioned are the trademark, service marks, registered trademarks or registered service marks of their respective owners.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995.
The statements contained in this press release that are not purely historical are forward-looking statements within the meaning of Section 21E of the Securities and Exchange Act of 1934, as amended, including but not limited to, those relating to Redback's ability to address the long-term needs of existing and potential customers and participate in new growth opportunities, remain listed on the NASDAQ National Market and maintain a stronger financial model. All forward-looking statements included in this document are based upon information available to Redback as of the date hereof, and Redback assumes no obligation to update these statements. These forward-looking statements involve a number of risks and uncertainties, the outcome of which could materially and adversely affect Redback's actual future results. These risks and other risks relating to Redback's business are set forth in the documents filed by Redback with the Securities and Exchange Commission (SEC), specifically the most recent reports on Form 10-K, 10-Q, Form 8-K, Registration Statements on Form S-4 (File Nos. 333-107714 and 333-108170), and amendments thereto, and other reports filed from time to time with the SEC.
CONTACT: Redback Networks
Steve Schick, 408-750-5096 (Media)
schick@redback.com
Investor Relations, 408-750-5130
investor_relations@redback.com
SOURCE: Redback Networks
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und noch eine Neuigkeit:
Redback Networks Receives $30 Million from TCV; New Equity Funding to Further Growth in Broadband Market
SAN JOSE, Calif.--(BUSINESS WIRE)--Jan. 5, 2004--Redback Networks Inc.(NASDAQ-NMS:RBAK) (Nasdaq:RBAKD), a leading provider of broadband networking systems, today announced that it has received $30 million in equity funding from Technology Crossover Ventures (TCV), a premier provider of growth capital to technology companies. In addition, the company today announced that its plan of reorganization became effective at 6:00 p.m. Pacific Time on January 2, and it has successfully completed the Chapter 11 process (please see separate press release).
"Having successfully completed our financial restructuring and having built a strong and unique position in the growing market for strategic broadband infrastructure, we are moving down the path towards profitability and long-term growth," said Kevin DeNuccio, president and chief executive officer of Redback Networks. "The funding and endorsement from TCV will ensure uninterrupted momentum as we continue to move forward and should serve as a significant sign of progress, furthering the confidence of our customers and partners."
"We believe that Redback Networks holds an important position in the quickly expanding market for strategic broadband infrastructure," said John Drew, General Partner, Technology Crossover Ventures. "TCV is committed to the long-term success of our investments, and we're excited to contribute to Redback's future in a promising market."
In return for their $30 Million investment TCV received 651,749 shares of Series B convertible preferred shares that can be converted into common stock at a one for ten ratio. TCV also received warrants exercisable for 1,629,373 shares of common stock at an exercise price of $5.00 per common share.
The shares of preferred stock and warrants sold to the investors have not been registered under the Securities Act of 1933. Accordingly, these securities may not be offered or sold in the United States, except pursuant to the effectiveness of a registration statement or an applicable exemption from the registration requirements of the Securities Act. Redback has agreed to file a registration statement covering resales of the common stock issuable upon conversion of the Series B preferred stock and exercise of the warrants by TCV. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the common stock.
About Redback Networks
Redback Networks Inc.(NASDAQ-NMS:RBAK) enables carriers and service providers to build profitable next-generation broadband networks. The company's User Intelligent Networks(TM) product portfolio includes the industry-leading SMS(TM) family of subscriber management systems, and the SmartEdge(R) Router and Service Gateway platforms, as well as a comprehensive User-to-Network operating system software, and a set of network provisioning and management software.
Founded in 1996 and headquartered in San Jose, Calif., with sales and technical support centers located worldwide, Redback Networks maintains a growing and global customer base of more than 500 carriers and service providers, including major local exchange carriers (LECs), inter-exchange carriers (IXCs), PTTs and service providers.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995.
The statements contained in this press release that are not purely historical are forward-looking statements within the meaning of Section 21E of the Securities and Exchange Act of 1934, as amended, including but not limited to, those relating to Redback's position in the broadband market, its path towards "profitability and long-term growth," the "uninterrupted momentum" of its business, the confidence of its customers and partners and the promise and growth of the broadband infrastructure market. All forward-looking statements included in this document are based upon information available to Redback as of the date hereof, and Redback assumes no obligation to update these statements. These forward-looking statements involve a number of risks and uncertainties, the outcome of which could materially and adversely affect Redback's actual future results. These risks and other risks relating to Redback's business are set forth in the documents filed by Redback' with the Securities and Exchange Commission (SEC), specifically the most recent reports on Form 10-K, 10-Q, Form 8-K, Registration Statements on Form S-4 (File Nos. 333-107714 and 333-108170), and amendments thereto, and other reports filed from time to time with the SEC.
REDBACK and SmartEdge are trademarks registered at the U.S. Patent and Trademark Office and in other countries. SMS and User Intelligent Networks are trademarks or service marks of Redback Networks Inc.(NASDAQ-NMS:RBAK) All other products or services mentioned are the trademark, service marks, registered trademarks or registered service marks of their respective owners.
CONTACT: Redback Networks
Steve Schick, 408-750-5096 (Media)
schick@redback.com
Investor Relations, 408-750-5130
investor_relations@redback.com
SOURCE: Redback Networks
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Interessant ist, daß Redback in den nächsten Tagen unter dem Symbol RBAQD gehandelt werden, weil sie den Reverse Stock Split durchführen.
Ich bin auf den ersten NASDAQ Kurs heute sehr gespannt.
Gruß
KohlenUndReibach
UPDATE - Redback exits from Chapter 11 bankruptcy
Monday January 5, 11:29 am ET
(Recasts first sentence, adds background, stock action)
CHICAGO, Jan 5 (Reuters) - Redback Networks Inc. (NasdaqNM:RBAKD - News; NasdaqNM:RBAKD - News) said on Monday it has exited from bankruptcy protection and completed a restructuring that includes the elimination of all its debt.
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The network equipment maker's restructuring plan included a 73-for-1 reverse stock split that left previous common shareholders with 5 percent of the newly traded 50 million shares and creditors with the rest. The San Jose, California-based company also announced it sold a stake to a private equity firm that could dilute shareholders further.
Redback, whose gear is used by telephone companies to expand high-speed networks and for adding services, filed its restructuring plan in early November as a "prepackaged plan."
Under the restructuring, the company cut $467 million in debt and reduced operating expenses by a third. The U.S. Bankruptcy Court for the District of Delaware confirmed the company's reorganization plan last month.
Redback said in November it could reach profitability as soon as the end of 2004 or early in 2005, and should be cash flow positive within a quarter or two.
It had faced delisting by the Nasdaq, but now meets the exchange's minimum bid price requirements due to the reverse split. The company's trading symbol will include the letter "D" for the next 10 trading days to indicate the reverse split as part of the restructuring.
Previous Redback common shareholders can increase their stake in the reorganized company through warrants to 15 percent over time as the company's market capitalization rises.
Redback also said on Monday that it received $30 million in equity funding from Technology Crossover Ventures in exchange for 651,749 shares of series B convertible preferred shares that can be converted into common stock at a 1-for-10 ratio.
Technology Crossover Ventures also received warrants for 1,629,373 shares of common stock at an exercise price of $5 a share.
Redback's shares were trading at $6.85 a share on the Nasdaq, down from the opening price of $7.80. The stock closed Friday before the restructuring and reverse split at 22 cents.
The decline from Friday's price would mean the stock was off almost 60 percent after taking into account the reverse split. However, Redback officials said that decline is not an accurate reflection because it does not take into account the 47.5 million shares created under the restructuring for the creditors.
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Was heißt das jetzt genau? Wieso spiegelt der heutige Kurs (momentan ca. 7,14 $) nicht den wahren Kurs wieder? Was passiert, wenn die 47,5 Mio. neue Aktien hinzukommen? Der Kurs ist ja in Deutschland ausgesetzt. Wer hat noch Redback Aktien von Euch und ist momentan genauso ratlos wie ich momentan? Was soll man tun? Zunächst heißt es einmal abwarten, bis die Aktien wieder in Deutschland gehandelt werden?
Was ist eure Meinung zu diesem ganzen Wirrwarr hier? Wer kann mir ganauere Auskunft geben?
Gruß
KohlenUndReibach
ich habe gerade von der Comdirekt Bank erfahren, daß meine Redback Aktien im Verhältnis 1,73,3925 umgetauscht werden. Die Redback Aktien erhalten die 729816 als neue WKN. Momentan steht der Kurs auf 6 EUR glatt (nicht taxiert, werden also noch
nicht gehandelt). Wenn ich richtig rechne, dann habe ich durch den Reverse Stock Split ca. 62 % meines Depotwertes verloren. Wer kann mir weiterhelfen, was ich jetzt noch tun kann. Kann ich irgendwo Widerspruch einlegen? Geht es irgendjemand von euch genauso wie mir. Ich weiß wirklich nicht, was ich noch machen soll.
Wer weiß mehr über den Reverse Stock Split? Ich wäre für jede Info dankbar.
Gruß
KohlenUndReibach
hab das gleiche gestern von meiner Bank bekommen und steh genauso da wie du ich glaube da müssen wir uns mal überraschen lassen.
Gruß Andy
Optionen
NEW YORK (CBS.MW) -- Redback Networks (RBAKD) shares surged more than 12 percent to $9.92 after SG Cowen lifted its rating on the stock to "outperform" from "underperform," saying the company has much less balance sheet risk following its emergence from bankruptcy on Jan. 5. The firm noted San Jose, Calif., provider of telecommunications networking systems now has cash reserves and no debt.
bin mal gespannt wie es weiter geht.
grüße
Bis dahin kann man nur hoffen..
Gruß
KohlenUndReibach
Comdirekt hat meine Redback Aktien wieder eingebucht. Ich habe zusätzlich noch Optionsscheine erhalten. Weiß jemand näheres darüber? Ich bin für jede Information dankbar!
Gruß
KohlenUndReibach
gewusst wie*duck*
aber keine bange,die fallen auf die fuesse;)
waere nett,wenn mal wer die daten der optionen einstellt
thx+mfg kram
hier ein paar Neuigkeiten:
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By Mike Tarsala, CBS.MarketWatch.com
Last Update: 11:00 AM ET Jan. 16, 2004
Another of the strongest gainers in the networking sectors was Redback Networks (RBAKD: news, chart, profile). Its shares gained as much as 8 percent, after analysts at Merriman Curhan Ford upgraded the stock to "buy" from "sell" and set a $17 price target on Redback's $10 stock. The firm cited Redback's low price-to-sales multiple vs. its peers, and its recent restructuring that moves the company closer to turning a profit.
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Ich habe auch zwischenzeitlich ein paar Informationen zu den Optionsscheinen, die jeder bekommen hat, der den Reverse Split (leider) mitgemacht hat:
Es wurden zwei verschiedene Optionsscheine ausgeteilt:
Die Warrants berechtigen bis zum 02.01.2010 zum Bezug von Stammaktien der Redback Networks im Verhältnis 1:1 zum Preis von USD 5,- bzw. USD 9,5,- per Stück
Heißt das jetzt, daß ich bis zum 02.01.2010 Zeit habe, um Redback Aktien für 5 bzw. 9,5 Dollar zu kaufen? Oder habe ich bereits den Kaufpreis bezahlt?
Wer weiß mehr darüber?
Gruß
KohlenUndReibach
In Deutschland kann ich aber keinen Handel feststellen?!
Ciao B.L.
http://quotes.nasdaq.com/...l=&symbol=&symbol=&symbol=&selected=rbakd
ja @kohlen,du hast das recht zum preis von 5 bzw.9,5$ bis 2010 die aktien zu erwerben
ich werd mir da aber zeit lassen,die hebeln schon ;)
und wer weiss,ob wir nich bis 2010 noch nen hype erleben*g*
(nich das nich schon alles heissgelaufen wär)
mfg kram
Hab meine leider zu früh verkauft!