spacetoday.net: space news from around the webin association with SpaceNews


Sirius warns of possible stock delisting, bankruptcy
Posted: Wed, Jan 15, 2003, 9:01 AM ET (1401 GMT)
Satellite radio company Sirius warned investors in an SEC filing this week that the company's stock could be delisted from the NASDAQ stock exchange and that the company could be forced to file for bankruptcy protection. In documents filed with the SEC regarding a proposed restructuring plan, the company noted that it has $180 million in cash on hand as of December 31, 2002, and will run out of money in the second quarter if the restructuring plan is not approved. If that happens, Sirius would have to file for Chapter 11 bankruptcy protection. The company also warned that its stock could be delisted from the NASDAQ National Market because as of December 23, 2002, the stock had closed below $1/share for 30 consecutive days. Sirius has until March 24 to get the stock to close above $1 for 10 consecutive days. If the stock is delisted, it would make it more difficult for the company to raise additional capital. On Tuesday the stock broke through the $1 barrier, closing up 49 cents to $1.28, largely due to an upgrade by brokerage Salomon Smith Barney.
<<previous article   next article>>
news in brief
Starship explodes during preparations for static-fire test
Posted: Sun, Jun 22 6:52 AM ET (1052 GMT)

French government leads investment in Eutelsat
Posted: Sat, Jun 21 8:38 AM ET (1238 GMT)

NASA further delays Ax-4 launch
Posted: Sat, Jun 21 8:34 AM ET (1234 GMT)

news links
Tuesday, July 1
Move over Starlink, here comes Kuiper
Gulf News — 4:58 am ET (0858 GMT)
USSF Seeks Industry Ideas For Space-Based Interceptors
Aviation Week — 4:57 am ET (0857 GMT)
Don’t forget about Iran’s space program
POLITICO — 4:54 am ET (0854 GMT)
EU Space Act is ‘orbital equivalent of GDPR’, says lawyer
Luxembourg Times — 4:53 am ET (0853 GMT)
Poland’s second ever astronaut is safe in space
Euro Weekly News — 4:49 am ET (0849 GMT)


about spacetoday.net   ·   info@spacetoday.net   ·   mailing list