Cedar Fair today filed for a "shelf issue," which will allow the company to sell new partnership units at any time in the next two years, totalling $195.9 million.
Read more from Reuters.
Either way, that's great news. 2007 is going to be an interesting year ... (either that or Cedar Fair and Busch have reached an agreement ... )
As long as it doesn't dilute the value of existing units, I'm all for it. Buying Geauga Lake certainly caused a hit on their debt load, and I'd hate to see them scale back on cap ex the next few years.
I think the timing of 2 years is just about perfect for the time when they'd probably have to secure financing for whatever masterpiece move (be it rides or parks) that Kinzel has up his sleeve for the '07 season.
My guess is that they'll wait for fabulous results at the end of the year, when they think they can maintain the unit price. Now that it's over $30, I doubt they want to let it slide.
*** This post was edited by MagnumAllan 6/24/2004 3:12:40 PM ****** This post was edited by MagnumAllan 6/24/2004 3:15:26 PM ****** This post was edited by MagnumAllan 6/24/2004 3:16:00 PM ***
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