Urbana: if you liked it at $1.20 you’re going to love it at…


Yes, after the dust has settled from the colossal meltdown and subsequent meltup of the markets over the last 2 weeks, Urbana corp has gotten hammered down to .97. And to this we’ll present a few things….

1) Urbana’s most recent NAV Calc http://www.urbanacorp.com/Documents/NAV/nav_aug_5_11.pdf

2) the current Market Value of their top two holdings CBOE and NYX as of Friday’s close? 90.6M

3) the current market value of Urbana as of Friday’s close URB.A and URB? 75M

Both the CBOE and NYX shares are fairly liquid. NYX avg.volume is ~3.5 million shares/day and CBOE is ~500k shares/day. So URB owns less than a days worth of NYX and a few days worth of CBOE. So pretty liquid stuff we’re talking about here. Assuming there’s no liquidation discount on the shares they could sell them at Fridays still depressed prices, pay down their debt of 14M to BMO(rate of 2.75% + prime) and still have 75M in the bank or .97/share.

The rest of the assets outlined in the NAV calc are a freebie. Cheers.


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