stonkless

this is a continuation of the post quoted at the bottom of this tweet. Amidst all the chaos in January of 2023, Lazard had earned a fee from what I believe was an attempted purchase of the Company. We have, for a long time and thanks to PitchBook seen the January 13 transaction as an attempted LBO. LBO is an abbreviation for leveraged buyout. If the PitchBook data is to be believed, there can be no doubt that Lazard had earned a fee despite the eventual transaction not coming to fruition. So, with that in mind, let's recollect some ideas: RC had a common stock position throughout early-to-mid 2022. Then, he exited. I have long speculated that this was due to him not receiving a majority-vote from the Board of Directors to purchase baby. Exactly on the 61st day from when RC sold his common stock position, Lazard will write a bond exchange agreement for Bed Bath. Rule 13(d) states that a beneficial owner taking a position within 60 days must file disclosure and report doing so to the SEC. RC was a beneficial owner as of April 21, 2022 and until August 18, 2022. (more on that, later). what a coincidence. In December 2022, RC tries to purchase some or all of the Company again, outside of his activist shareholder position. He is turned down. One month later in January, there is an attempted LBO. In the days leading up to it, the stock price had soared. Note the date, January 12. This is the day before the LBO will be recorded on PitchBook and Lazard will earn a fee. Sadly, the corporate news media chose to report on the stock price movement as resulting from retail traders. Shortly thereafter and still in January, JP Morgan will state that certain events of default were triggered, placing the ABL in default, freezing the Company's cash. Now, let's observe some critical chronological information. Lazard earned a fee on January 13, and shortly thereafter: had modified their engagement letter with the Company two days later, on January 15. I believe they had goals/milestones based on outcomes that were discussed in meetings and structured into engagement letter (which outlines how Lazard would be paid) based off of those conversations. They kept trying, the deals kept running into issues, therefore in order for Lazard to still have a way to be paid for more work, they had to make new inclusions into the engagement letter. Maybe even, in consultation with the buyer who had been strategizing alongside them, or somehow working cooperatively.. ..through a dealer-manager agreement. Who knows. — Folks feeling bearish will still say, "no way, you're delusional. RC is not involved!" don't forget that this is already an enormous pivot from the original, "no way, you're delusional. RC sold his shares in August 2022. He's not coming to save you baggies, he's not involved!" ..while still ignoring: Note the date: as of May 30, 2023. "A codebtor is someone who must pay off a debt owed by the debtor (the person who files for bankruptcy) if the debtor fails to do so." Ask yourself, why would he want to do that? I believe it is because he never left and he never stopped until he got what he came for. That is who I choose to invest in. 🥷 $BBBY #BBBY $BBBYQ #BBBYQ $GME #GME