ATLAS FINANCIAL HOLDINGS INC AFHIF
April 12, 2021 - 3:43pm EST by
member
| 2021 | 2022 | ||||||
| Price: | 0.22 | EPS | 0 | 0 | |||
| Shares Out. (in M): | 12M | P/E | 0 | 0 | |||
| Market Cap (in $M): | 3 | P/FCF | 0 | 0 | |||
| Net Debt (in $M): | 0 | EBIT | 0 | 0 | |||
| TEV (in $M): | 0 | TEV/EBIT | 0 | 0 | |||
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| 60 | |
still in the name? any updates? | |
| 59 | |
@mrsox - do you happen to still be involved? would love to know your thoughts here. Obviously pretty illiquid but still surprised to see it having traded down so far especially after effecting the friendlier | |
| 58 | |
@casper - how different does this look today vs what you posted last September? Trying to understand the dilution (inc mgmt options) / EBITDA potential today? I'm not saying a recession would help this business,... login to read the rest | |
| 57 | |
UBER Uber Technologies guides Q1 adjusted EBITDA $130-150M vs prior guidance $100-130M and FactSet $116.2M - 8-K ($29.83) • Based on quarter to date trends, Uber Technologies is updating its Q1 2022 outlook previously provided on... login to read the rest | |
| 56 | |
The application data was really impressive as it translates into real MGA revenue. They also did not have to say what they did re EBITDA positive unless they thought this was very realistic. | |
| 55 | |
AGMI’s applications for insurance during January and February up 360% as compared to the same period last year and policies issued through the end of February 2022 up 680% compared to the same period last... login to read the rest | |
| 54 | |
Debt overhang gone. Can now focus on the business which by all indications should be growing commensurate with cities reopening. | |
| 52 | |
Common waiting for the debt overhang here to go away. Option value on the common should improve materially.
Here is a link to the Cayman docket that details the debt swap: https://www.donlinrecano.com/Clients/afh/IndexUnder the terms of the... login to read the rest | |
| 51 | |
Item
8.01 Other Events.
On January 4, 2022, Atlas Financial Holdings, Inc. (the “Company”) filed a petition and summons for directions in the Grand Court of the Cayman Islands (the “Cayman Court”) regarding a scheme... login to read the rest | |
| 50 | |
One of the largest holders just updated their 13D to say that they will support the debt restructuring having signed the RSA | |
| 49 | |
Venbrooks Acquires Georgia E&S MGA
BRP Group (Nasdaq: BRP) Acquires Arcana Insurance Services
RAISE Underwriting to Acquire United Surety
Jencap Group acquires specialty MGA Russell Bond & Co. | |
| 48 | |
Yes - they are at 55% affirmative votes as of November and that is without any formal solicitation of votes - so I think they will be able to get to the 75% number and... login to read the rest | |
| 47 | |
Isn't the issue that they only have 54% of the bonds in agreement with their restructuring agreement? Curious how you see it playing out over the next 12 months? | |
| 46 | |
https://www.businesswire.com/news/home/20211207005322/en/Buckle-and-Amwins-Specialty-Auto-Sign-MGA-Agreement-in-Florida | |
| 45 | |
See the previous posts - the debt will be addressed via the Cayman restructuring.
from older post:
- The Company eliminates all solvency risk when the Bonds get pushed out. - With the restructuring of the bonds,... login to read the rest | |
| 44 | |
We are getting close to April/2022 where $22m debt is due. What is your view on this situation? | |
| 43 | |
Take on the quarter -- should have more clarity on the conf call
- third quarter 2021 submissions were up 70% as compared to the second quarter this year, and policies issued were up 147%- commissions... login to read the rest | |
| 42 | |
Atlas' customer Buckle just raised almost $30m - part of the deal was done by Eldridge (Todd Boehly's vehicle). Boehly is considered a savvy investor, especially in the insurance space. He is at the helm... login to read the rest | |
| 41 | |
I am no expert either - but from prior observations Cayman law closely follows English Common Law - I don't think he would take this position and test the waters on the nuances between Cayman... login to read the rest | |
| 39 | |
Broadbill has taken a Board seat and thus has a fiduciary duty to shareholders. There is no loan to own scenario that results in a better outcome - the assets are worth substantially more as... login to read the rest | |
| 37 | |
We felt it was time for a cap structure update on Atlas. Were common shareholders diluted? You bet. Could the Company have done better? Perhaps. However, MGAs are highly specialized assets - they are more... login to read the rest | |
| 36 | |
An investor filed a 13D basically highlighting many of the reasons we think this stock can work. I'm surprised the stock isn't up more. If we're right in our thesis, this is a $3-5+ stock so at $0.50,... login to read the rest | |
| 35 | |
??? I'm a tourist here and just catching up - I get that extending out the sr debt adds to the optionality. but the Sheridan Road loan package was bad - 40% dilution to take... login to read the rest | |
| 34 | |
It's a home run for the common and shows, yet again, how these Prefs and Baby Bonds are junk pieces of paper. If this Company even gets back to half of the premium that was... login to read the rest | |
| 33 | |
Thanks. We are surprised at just how good this is for the common. The downside case is coming off the table and we think we can now focus on the base/upside case math, which could have the | |
| 32 | |
Curious where this will trade tomorrow. The restructuring looks like a home run for the common. | |
| 31 | |
Corvus acquires Wingman (cyber and tech E&O)BMS Re acquires Trean Intermediaries (re-broker and services)IVANS (division of applied systems) acquires Ask Kodiak (commercial lines)BRP (MGA division) acquires Foundershield LLC (distribution platform)Amynta acquires Scion Underwriting (MGA - | |
| 30 | |
Thanks Casper for the compelling write up, though I wonder if one of your valuation assumptions may need revisiting. In your valuation scenarios, you have the agent cost coming in at ~33% of the comission revenue... login to read the rest | |
| 28 | |
Every metric of the business is improving. Even the small impairment they took on the carrying value of their IL building shows that they may have a buyer (would release a few mm of equity).... login to read the rest | |
| 27 | |
Pretty decent numbers, ppp forgiven, looks like debt came down a bit so maybe bought some back....if they can gain traction they one would think they could refi or push out maturity...will learn more on... login to read the rest | |