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They are asking for Shareholder approval to sell more shares...they need to raise alot of cash quick to pay off debt notes that are coming due in June, the money they are getting back from the Hawaiian settlement will help some but it is not enuff...
Their stock closed on Friday at $.74cents...if the get the approval to sell the additional shares then their stock price will drop further..
They aren't getting money back from Hawaiian, they had to pay 52 million to Hawaiian.
Actually they are getting money back. They already made the $80 million payment, but in the final ruling the judge changed the sum to $52 million and thus Mesa is actually getting money back. Though it will only help delay the inevitable.
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