Howard Marks
👤 SpeakerAppearances Over Time
Podcast Appearances
And we said, you know what?
Let's see if we can take it over.
So we bought 30% of the company from one investor who was a venture capitalist.
He was like, you know, I'm out.
So we paid that, I think, 400 grand.
It was public.
You're allowed to make a private transaction with a public company.
The stock price was under a dollar.
It was bleeding.
So we paid the... We actually got a huge discount from the VC as well.
They didn't charge us with the stock price because it was illiquid.
You know, if you went out and said, I want to buy that much, the price would go way high, right?
So as a private transaction, it worked great.
Anyway, we paid 400 grand, 30%.
Then we sent a fax.
At that time, you didn't have email.
We sent a fax to the CEO.
I know.
I'm 55.
Anyway, we basically...