Added to YB: 2024-05-09
Pitch date: 2024-05-08
MIND [bullish]
MIND Technology, Inc.
+85.96%
current return
Author Info
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Company Info
MIND Technology, Inc., together with its subsidiaries, provides technology to the oceanographic, hydrographic, defense, seismic, and maritime security industries in the United States, China, Norway, Turkey, Singapore, Canada, and internationally.
Market Cap
$113.9M
Pitch Price
$4.56
Price Target
N/A
Dividend
N/A
EV/EBITDA
12.65
P/E
5.62
EV/Sales
2.20
Sector
Energy Equipment and Services
Category
special_situation
MIND Technology ($MIND, $MINDP)
$MIND: Streamlined maritime tech provider post divestitures. Strong backlog from offshore wind & oil. Klein sale = debt-free w/ $5.3M cash but $48.7M pref overhang. Mgmt pushing for disadvantageous pref conversion. Pref upside: 1) Liquidation at $28.94 in sale 2) 3.9:1 conversion into common. Risks: Other financing senior to prefs, ongoing pref neglect. Activist target?
Read full article (12 min)