I guess if you weren’t constantly harassed and sued you’d have to ask why Mood Media Corporation (TSX:MM/ LSE AIM:MM) need to raise USD 350 Million.
That’s if you cared of course BUT seemingly you do care .. since this post first went up late on Friday evening it’s been our most viewed story.
The press release states that “the precise timing, size and terms of the offering are subject to market conditions and other factors” and that Mood Media intends to use the net proceeds of the private placement to repay existing indebtedness under its first-lien credit facility, repay its second lien credit facility in its entirety, finance a proposed acquisition and for general corporate purposes.
So from that you learn that they are borrowing even more money to pay off previous debts and make another acquisition.
Enough said most probably.