muscleman Posted September 5, 2014 Share Posted September 5, 2014 How does private placements work? I've never done one before so please excuse me for asking newbie questions. Am I going to fill out some forms and wire my money to some bank account, cross my fingers and hope that after a few weeks, the shares hit my broker account? LOL! Essentially. The funds go into a law firm trust account. They issue the certificate and it is delivered to your broker, or wherever you desire the certificate to be delivered. Mohnish just did one for $110M...I don't think there were any real issues. We are going to be doing one for $10M...I'm pretty sure we can avoid any problems. Cheers! I see. Pabrai didn't do well in 2008. A 66% mark to market loss. While it is quite fine in his fund, it may not work out well as a reinsurance company. Regulators could push for capital raise at that point. How are you going to handle that problem with this new reinsurance vehicle? Link to comment Share on other sites More sharing options...
Parsad Posted September 5, 2014 Author Share Posted September 5, 2014 How does private placements work? I've never done one before so please excuse me for asking newbie questions. Am I going to fill out some forms and wire my money to some bank account, cross my fingers and hope that after a few weeks, the shares hit my broker account? LOL! Essentially. The funds go into a law firm trust account. They issue the certificate and it is delivered to your broker, or wherever you desire the certificate to be delivered. Mohnish just did one for $110M...I don't think there were any real issues. We are going to be doing one for $10M...I'm pretty sure we can avoid any problems. Cheers! I see. Pabrai didn't do well in 2008. A 66% mark to market loss. While it is quite fine in his fund, it may not work out well as a reinsurance company. Regulators could push for capital raise at that point. How are you going to handle that problem with this new reinsurance vehicle? You'll see. The risk isn't on our balance sheet. Cheers! Link to comment Share on other sites More sharing options...
muscleman Posted September 8, 2014 Share Posted September 8, 2014 How does private placements work? I've never done one before so please excuse me for asking newbie questions. Am I going to fill out some forms and wire my money to some bank account, cross my fingers and hope that after a few weeks, the shares hit my broker account? LOL! Essentially. The funds go into a law firm trust account. They issue the certificate and it is delivered to your broker, or wherever you desire the certificate to be delivered. Mohnish just did one for $110M...I don't think there were any real issues. We are going to be doing one for $10M...I'm pretty sure we can avoid any problems. Cheers! I see. Pabrai didn't do well in 2008. A 66% mark to market loss. While it is quite fine in his fund, it may not work out well as a reinsurance company. Regulators could push for capital raise at that point. How are you going to handle that problem with this new reinsurance vehicle? You'll see. The risk isn't on our balance sheet. Cheers! Are you going to become the investment manager of this reinsurance company after you secure at least 1 board seat? Link to comment Share on other sites More sharing options...
compoundinglife Posted September 8, 2014 Share Posted September 8, 2014 Congrats! Another chapter in your and the COBF's story :) Looking forward to watching it all unfold. Link to comment Share on other sites More sharing options...
Otsog Posted September 8, 2014 Share Posted September 8, 2014 How big of an investor do you need to be? :) Accredited, but as LC said, you will be able to buy shares in the open market...maybe not at the same price as the private placement though. Cheers! Do current shareholders have to be accredited to take part? Link to comment Share on other sites More sharing options...
OracleofCarolina Posted September 8, 2014 Share Posted September 8, 2014 It's official..congrats to Sanjeev! http://www.marketwired.com/press-release/premier-diagnostic-health-services-inc-announces-new-president-and-ceo-cnsx-pdh-1944759.htm Link to comment Share on other sites More sharing options...
Liberty Posted September 8, 2014 Share Posted September 8, 2014 It's official..congrats to Sanjeev! http://www.marketwired.com/press-release/premier-diagnostic-health-services-inc-announces-new-president-and-ceo-cnsx-pdh-1944759.htm Congrats again! I knew a few days ago, but kept it :-X Link to comment Share on other sites More sharing options...
tengen Posted September 8, 2014 Share Posted September 8, 2014 Congrats Sanjeev on your new position! Are you going to change the name of the company? Link to comment Share on other sites More sharing options...
oddballstocks Posted September 8, 2014 Share Posted September 8, 2014 The Internet is amazing, there are no barriers. The press release has a message at the top, not to be disseminated to the US. Yet here I am in the US reading this... This is great news. Congrats on taking over a company, quite a long journey to the top. But at least you didn't have to climb any corporate ladders. Link to comment Share on other sites More sharing options...
ItsAValueTrap Posted September 8, 2014 Share Posted September 8, 2014 Congrats! Link to comment Share on other sites More sharing options...
Parsad Posted September 8, 2014 Author Share Posted September 8, 2014 Congrats Sanjeev on your new position! Are you going to change the name of the company? As the company develops, the name will develop, but the "Premier" name stays. Cheers! Link to comment Share on other sites More sharing options...
Liberty Posted September 8, 2014 Share Posted September 8, 2014 Congrats Sanjeev on your new position! Are you going to change the name of the company? As the company develops, the name will develop, but the "Premier" name stays. Cheers! Premier Holdings Premier Corner Permierdyne Premier Hathaway ;) Nice ring to it. Link to comment Share on other sites More sharing options...
OracleofCarolina Posted September 8, 2014 Share Posted September 8, 2014 Friendly Fair Premier Holdings Link to comment Share on other sites More sharing options...
ERICOPOLY Posted September 8, 2014 Share Posted September 8, 2014 Of course it will eventually be renamed... "Premier Parsad". Link to comment Share on other sites More sharing options...
Guest ajc Posted September 8, 2014 Share Posted September 8, 2014 Of course it will eventually be renamed... "Premier Parsad". For a nominal fee. Link to comment Share on other sites More sharing options...
rkbabang Posted September 8, 2014 Share Posted September 8, 2014 You need to buy a building in a downtown location and get the huge "Parsad" sign up immediately. Link to comment Share on other sites More sharing options...
Liberty Posted September 8, 2014 Share Posted September 8, 2014 You need to buy a building in a downtown location and get the huge "Parsad" sign up immediately. And buy some expensive abstract art for the lobby! Link to comment Share on other sites More sharing options...
NormR Posted September 8, 2014 Share Posted September 8, 2014 It's official..congrats to Sanjeev! http://www.marketwired.com/press-release/premier-diagnostic-health-services-inc-announces-new-president-and-ceo-cnsx-pdh-1944759.htm Congrats again! I knew a few days ago, but kept it :-X Chuckle, it was easy to spot via a sedi search. I noticed it last month when I was poking around. :) Link to comment Share on other sites More sharing options...
Parsad Posted September 8, 2014 Author Share Posted September 8, 2014 You need to buy a building in a downtown location and get the huge "Parsad" sign up immediately. And buy some expensive abstract art for the lobby! I've also installed 24 monitors in my office for trading! ;D Actually, I took one of the smallest offices...24 monitors wouldn't fit. The nicest offices are going to be subleased to cut overhead. Cheers! Link to comment Share on other sites More sharing options...
Parsad Posted September 8, 2014 Author Share Posted September 8, 2014 Congrats Sanjeev on your new position! Are you going to change the name of the company? As the company develops, the name will develop, but the "Premier" name stays. Cheers! Premier Holdings Premier Corner Permierdyne Premier Hathaway ;) Nice ring to it. Premier Holdings was taken...checked it already a few weeks ago! ;D Cheers! Link to comment Share on other sites More sharing options...
AZ_Value Posted September 8, 2014 Share Posted September 8, 2014 You need to buy a building in a downtown location and get the huge "Parsad" sign up immediately. And buy some expensive abstract art for the lobby! I've also installed 24 monitors in my office for trading! ;D Actually, I took one of the smallest offices...24 monitors wouldn't fit. The nicest offices are going to be subleased to cut overhead. Cheers! Personally, I'll know that you made it big when your private pictures start being leaked on the internet :-) Congrats Sanjeev, know that you have a bunch of people pulling for you that you can reach out to whenever and for whatever, and trust me, in life as in business, this intangible is priceless. For everything else use your corporate AMEX card now that you're the boss :-) Congrats again buddy. Link to comment Share on other sites More sharing options...
augustabound Posted September 8, 2014 Share Posted September 8, 2014 Personally, I'll know that you made it big when your private pictures start being leaked on the internet :-) When a picture of Sanjeev with his hair greased back is in the lobby of each Western Sizzlin' Premier facility, we'll know he's "arrived". ;D (Yes, I know you'd have to grow back your hair) Congratulations. ;) Link to comment Share on other sites More sharing options...
MVP444300 Posted September 8, 2014 Share Posted September 8, 2014 Congrads! I've been involved with a new company the last 1 1/2 year. I can tell you its exhausting work. Email sent. Link to comment Share on other sites More sharing options...
Parsad Posted September 8, 2014 Author Share Posted September 8, 2014 You need to buy a building in a downtown location and get the huge "Parsad" sign up immediately. And buy some expensive abstract art for the lobby! I've also installed 24 monitors in my office for trading! ;D Actually, I took one of the smallest offices...24 monitors wouldn't fit. The nicest offices are going to be subleased to cut overhead. Cheers! Personally, I'll know that you made it big when your private pictures start being leaked on the internet :-) Congrats Sanjeev, know that you have a bunch of people pulling for you that you can reach out to whenever and for whatever, and trust me, in life as in business, this intangible is priceless. For everything else use your corporate AMEX card now that you're the boss :-) Congrats again buddy. Much appreciated and I couldn't agree more! Corporate cards were all cut up except for one...I don't use it. New fiscal policy for the company was created and given out. We've gotten leaner, but will get even more so. Treat shareholder's money as fiduciaries...not personal piggy banks! Corporate culture is finally headed in the right direction. Cheers! Link to comment Share on other sites More sharing options...
tengen Posted September 8, 2014 Share Posted September 8, 2014 Don't forget the 10,000 to 1 reverse stock split. Link to comment Share on other sites More sharing options...
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