Oh No, GCFC Deal is a No Go

Well, it looks like it’s finally happened. A “going private” transaction has not gone through. Central Federal Corp. announced yesterday that its Board has decided not to go forward with the reverse split. It least I can say they at least warned us.

I plan on holding this stock until at least the ex-dividend date. Then I will reassess the situation and potentially move my money into another special situation opportunity.

I think the lesson I learned hear is to avoid any risk with these “going private” transactions and also to make sure the company has enough cash to cover the buyouts.

One thought on “Oh No, GCFC Deal is a No Go

  • March 22, 2005 at 8:44 am
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    I put together a slighly longer list of lessons learned from my own experience. You can see it at Wealth Junkie.
    –Alex

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