Edison Schools ist sehr intessant im Moment, abgestürzt von 30 auf 1 Dollar.
Es ist aber auffällig, wie kräftig Bewegung in die Aktie kommt.
Diesen Monat gab es schon 5 AdHocs, die letzte von gestern.
Chelsey Capital to Consider Lending More Money to Edison Schools
Updated: Tuesday, June 11, 2002 11:32 AM ET Printer-friendly version
BOSTON -- Chelsey Capital Partners said it will consider making additional loans to Edison Schools Inc. (EDSN, news, msgs) should the for-profit school management chain need them.
"Chelsey has a long view," William Wachtel, general counsel of the New York hedge fund, said in an interview Tuesday. "To the extent that additional capital is needed, it's certainly possible that we'd provide it. We intend to support the company qualitatively and quantitatively over time."
However, Mr. Wachtel said he hopes Edison will avoid the need to seek additional funding by becoming "leaner and meaner." Edison, which already owns nearly $100 million in charter school land and buildings, should steer clear of further capital-intensive real-estate investments, he said.
Chelsey agreed last week to lend Edison $30 million to fund its takeover of the management of 20 Philadelphia schools and expand its presence in other school districts. Edison also received $10 million from Merrill Lynch & Co. ( MER, news, msgs).
Edison, which began managing schools in 1995, has not yet turned a profit.
-By Daniel Golden, The Wall Street Journal; 617-654-6785
Copyright 2002 Dow Jones & Company, Inc.
All Rights Reserved
Es ist aber auffällig, wie kräftig Bewegung in die Aktie kommt.
Diesen Monat gab es schon 5 AdHocs, die letzte von gestern.
Chelsey Capital to Consider Lending More Money to Edison Schools
Updated: Tuesday, June 11, 2002 11:32 AM ET Printer-friendly version
BOSTON -- Chelsey Capital Partners said it will consider making additional loans to Edison Schools Inc. (EDSN, news, msgs) should the for-profit school management chain need them.
"Chelsey has a long view," William Wachtel, general counsel of the New York hedge fund, said in an interview Tuesday. "To the extent that additional capital is needed, it's certainly possible that we'd provide it. We intend to support the company qualitatively and quantitatively over time."
However, Mr. Wachtel said he hopes Edison will avoid the need to seek additional funding by becoming "leaner and meaner." Edison, which already owns nearly $100 million in charter school land and buildings, should steer clear of further capital-intensive real-estate investments, he said.
Chelsey agreed last week to lend Edison $30 million to fund its takeover of the management of 20 Philadelphia schools and expand its presence in other school districts. Edison also received $10 million from Merrill Lynch & Co. ( MER, news, msgs).
Edison, which began managing schools in 1995, has not yet turned a profit.
-By Daniel Golden, The Wall Street Journal; 617-654-6785
Copyright 2002 Dow Jones & Company, Inc.
All Rights Reserved