The fledgling PHCP roll-up Supply America is reconsidering its financial plan after deciding against an initial public offering, the group's original intent, explained Mike Mussog, chief executive officer of the organization.
The fledgling PHCP roll-up Supply America is reconsidering its financial plan after deciding against an initial public offering, the group's original intent. The state of the stock market and the poor showing by other PHCP companies in recent months convinced Supply America's participants to look at other options, explained Mike Mussog, chief executive officer of the organization.
"We can't go public," Mussog said. "The stocks in the companies in this business stink right now - some for good reason, some for no reason. We are contemplating getting separate financing. However, that changes the deal a little bit in terms of the ability to draw cash out of it, and we are trying to sort that out."