I have tracked this stock for long time. $NOVC Novation Co pulls SEC Rule 15c2-11
I have tracked this stock for long time. Since $NOVC Novation Co Board of Directors activated SEC Rule 15c2-11 the following investors have added millions of $NOVC common stock at sub-penny share price off NO RETAIL / NO PUBLIC INFORMATION.
SEC Rule 15c2-11 allows a public company like Novation Co $NOVC to stop bid/ask for retail investors, stop SEC filings although $NOVC filed 8K Friday 1/20/2023 BUT STILL ALLOWS those investors they define as EXPERT to BUY NOVC.
SEC Rule 15c2-11 defines an Expert Investor as any investor that must filed 13F aka HF RIA that has at least $100M AUM.
$NOVC Board (past and present) holding 40M most camouflaged and controlling investors Jefferies 20M, MassMutual sub-Barings 19.3M, White Mountains Capital $WTM that own EJF Capital aka formerly FBR and Fortress owned by Softbank own 31.3M (Fortress & EJF Capital also still hold $NOVC ONLY Sr Debt even after being PAID 11m Cash & 31M common shares). These investors own both most of $NOVC Common and only Sr Debt. WHY
THIS IS GOOD NEWS for those Common Shareholders that have endured over decade of FUD, fear uncertainty & disinformation by $NOVC Board. Jan 20 2023 8K filed shows Boulay Group CPA firm has blessed the restructuring not yet announced. The following expert investors would not add millions of $NOVC common without a plan a very clear plan to create capital maybe billions and annual cash flow of hundreds of millions in dividends and management fees. THERE is ONLY ONE WAY I know to accomplish this READ my past Posts.
Barings LLC 19,258,775 16.6% per 10K agreed Barings is sub of Mass Mutual Sister Corp to Jefferies $JEF (owns 20M per 13D 6/23/2023)
Barry A. Igdaloff 3,529,707 3.04% Igdaloff owns 10M $NOVC common most camouflaged
Talkot Capital LLC 1,901,500 1.64% Talkot is Fund of Thomas Bruce Akin ex CEO/COB of Dynex Capital $DX. Both Akin and $NOVC Chairman Barry Igdaloff served on $DX Board for years, Igdaloff for 20 yrs per DX 8K 9/3/2020.
Bank of America, NA (Private Banking) 670,722 0.58% New since $NOVC Board triggered SEC Rule 15c2-11
Dreman Value Management LLC 533,125 0.46% New since $NOVC Board triggered SEC Rule 15c2-11
Bridges Investment Management, Inc. 478,766 0.41% New since $NOVC Board triggered SEC Rule 15c2-11
Putnam Investment Management LLC 386,880 0.33% New since $NOVC Board triggered SEC Rule 15c2-11
Goldman Sachs & Co. LLC (Private Banking) 359,640 0.31% New since $NOVC Board triggered SEC Rule 15c2-11
related to Peter Briger ex Sr Partner at Goldman Sachs Co-CEO/COB of Fortress
General Electric Co. (Investment Company) 333,333 0.29% New since $NOVC Board triggered SEC Rule 15c2-11
BlackRock Fund Advisors 259,936 New since $NOVC Board triggered SEC Rule 15c2-11
related to Wesley Edens Founder and CEO/COB of Fortress ex Head of Blackrock MBS Desk ex Lehman Bros
Jefferies $JEF formerly $LUK Leucadia National owns 20M per 13D filed on $NOVC 6/23/2011
These investors have used FUD Fear Uncertainty and Disinformation in SEC filings, now they use the ultimate FUD SEC Rule 15c2-11. This takes a great deal of experience to come up with these plans that keep $NOVC dormant for some reason.
$NOVC Board has a prior relationship with Sr Debt Holders Fortress/EJF ID hidden behind CDOs Taberna I & II/Kodiak CDO I, which has also resulted in est $11M Cash being paid $6.3M inside Ch 11. These goodies must be for an understanding or Quid Pro Quo with $NOVC Board, MassMutual, Barings, and Jefferies. That understanding IMHO is Fortress/EJF have agreed to invest alongside these investors in $NOVC shelf offering hidden inside their last poison pill renewal https://fintel.io/doc/sec-novc-novation-companies-pre-14a-2018-august-16-18358-110 (to save $730M NOLs from IRC 382) filed in Oct 2018 Proxy 14A page 12 that prices one $NOVC common at $2.33/share exactly MassMutual Barings and Jefferies cost basis.
Per the link above 2018 Proxy filed by Novation Companies Inc. OTCBB $NOVC prices one $NOVC Common Rights to VOTE and Receive Dividends at $2.33/$NOVC common right. This is defined on Page 12 of this Proxy Oct 2018 which buries a shelf offering inside this poison pill renewal called PS Series F. This PS Series F provides for as many as 500M common shares or equivalents (500M x $2.33 = $1.165B cash). Sufficient capital to spin out $NOVC prior NYSE MREIT $NFI Novastar Financial Inc. and use CCR Clean up call rights that control the future use of billions of rich, seasoned collateral assets ideal to be leveraged and securitized into new tax-exempt MREIT Dividend. The remaining company www.healthcare-staffing.com HCS estimated $50M Revenue, can use $730M NOLs.
Aggressive Form 4s filed by Jeff Eberwein, Wharton MBA, ex COB/CEO of Novation Companies Inc. OTCBB $NOVC at both $HSON and $NOVC suggest to me a merger to monetize $730M NOLs. Jeff Eberwein formerly served at both Soros Investments and Viking Global Mgt as Portfolio Manager. Eberwein via his HF Lone Star Value Mgt bought estimated 3.2M $NOVC common, 30K every day for 6 months from April to Oct 2015. Jeff Eberwein now CEO/COB of Hudson Global RPO $HSON has been buying $HSON hand over fist along with Heartland Mutual Fund and HWCM Hotchkis & Wiley Capital Mgt. Do not be surprised to see $NOVC merge their only operating unit HCS est 50M Gross Staffing Revenue with $HSON est $210M Gross Staffing Revenue creating a quarter of billion public company tax-free $730M NOLs.
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|157836||Re: I have tracked this stock for long time. $NOVC Novation Co pulls SEC Rule 15c2-11||bottomfeeder001||0||2/1/2023 2:01:37 PM|
|157840||Re: I have tracked this stock for long time. $NOVC Novation Co pulls SEC Rule 15c2-11||wavb||3||2/2/2023 1:06:18 AM|
|157844||Re: I have tracked this stock for long time. $NOVC Novation Co pulls SEC Rule 15c2-11||wavb||2||2/2/2023 6:59:20 PM|