PRGX

[cc1120]

01/05/2006  11:39   PST

Charts bullish , target 1 @0.73

http://www.stockconsultant.com/consultnow/basicplus.cgi?ID=sample&symbol=PRGX&62710#ttop

GL

cc

[stocks2watch2]

I'm still holding, looks like it's formed a nice base.

[cc1120]

01/06/2006  11:00  PST

Prgx start moveing to the target 1  @ 0.72  resistance @ 0.65

GL

cc

[cc1120]

01/07/2006     10:05    PST

Prgx confirmed BUY!

http://americanbulls.com/StockPage.asp?CompanyTicker=PRGX&MarketTicker=NASD&TYP=S

GL

cc

[cc1120]

01/09/2006    11:28   PST

Prgx chart looks bearish. I'm out @ 0.64, 10% gain .

http://www.stockconsultant.com/consultnow/basicplus.cgi?symbol=prgx#ttop

GL

[Kublakhan]

PRGX is up 30% in after hours trading due to this:
http://biz.yahoo.com/bw/060201/20060201006207.html?.v=1

Keep it on your radar tomorrow morning.   

PRG-Schultz International, Inc. Announces Commencement of Exchange Offer for $125 Million Convertible Notes
Wednesday February 1, 6:05 pm ET
Company Also Secures Commitment for $45 Million of New Financing Subject to Successful Completion of the Exchange Offer

ATLANTA--(BUSINESS WIRE)--Feb. 1, 2006--PRG-Schultz International, Inc. (Nasdaq: PRGX - News) announced today that it has commenced an exchange offer for its outstanding 4.75% Convertible Subordinated Notes due 2006 in conjunction with the company's previously announced comprehensive financial restructuring of its capital structure. The company is offering to exchange the $125 million of Convertible Notes for approximately $125 million of new securities consisting of $50 million of new 11% senior notes due 2011 (together with an additional principal amount equal to accrued and unpaid interest on the Convertible Notes through the date of consummation of the exchange offer), $60 million of new 10% senior convertible notes due 2011, and new series A convertible participating preferred stock having an aggregate liquidation preference of $15 million. Holders of approximately 54.6% of the outstanding Convertible Notes have committed to tender their Convertible Notes in the exchange offer and to otherwise support the restructuring.

Under the terms of the exchange offer, the company will issue in exchange for each $1,000 in principal amount of Convertible Notes properly tendered and accepted for exchange (i) $400 principal amount of new 11% senior notes due 2011 (together with an additional principal amount equal to accrued and unpaid interest due on the tendered Convertible Notes to the closing date of the exchange offer), (ii) $480 principal amount of new 10% senior convertible notes due 2011 and (iii) one share, $120 liquidation preference, of the new series A convertible participating preferred. The new senior convertible notes and new series A convertible preferred stock will, under certain circumstances, be convertible into our common stock at the election of the holder.

The exchange offer will expire at 5:00 p.m., New York City time, on Thursday, March 2, 2006, unless extended by the company. The exchange offer is subject to a 99% minimum acceptance level of the Convertible Notes in the exchange offer, the refinancing of the company's existing senior secured credit facility and bridge loan, and certain other conditions. The company reserves the right to waive any condition, but it also has the right to terminate the exchange offer if any condition is not satisfied.

The company also announced that it has secured a financing commitment from Ableco Finance LLC to provide a new $45 million senior secured credit facility that will be used to refinance the company's existing senior secured credit facility and $10 bridge loan and to fund the company's general working capital needs. The new credit facility will consist of a $25 million term loan and a $20 million revolving credit facility, availability under which will be determined under an agreed borrowing base formula. Funding of the new credit facility is subject to a number of conditions, including the successful consummation of the exchange offer.

Immediately after completion of the restructuring, existing common shareholders will own approximately 54.1% of the equity of the company (without giving effect to conversion of the new senior convertible notes and the new management incentive plan to be implemented in connection with the restructuring). If all of the new senior convertible notes offered were converted into common stock following completion of the restructuring, existing common shareholders would own approximately 30% of the equity of the company (27% after dilution for the new management incentive plan, assuming that all of the shares reserved under the plan are granted and vested).

An offering circular and a related letter of transmittal are being distributed to holders of the Convertible Notes today in which the terms of the exchange offer are described in detail.

[setravis]

I don't know if this is going to hold, but the pre-market looks like this.

PRG-SCHULTZ INTL (NasdaqNM:PRGX) Delayed quote data 

Pre-Market (RT-ECN): 0.65  0.1669 (34.55%) 

[Holygrale]

This one looks like it wants to move with strong volume ..................

[Kublakhan]

Nice breakout today with news of completing the refinancing:

PRG-Schultz Completes Refinancing
Monday March 20, 10:02 am ET
PRG-Schultz Completes Refinancing With New Notes, Credit Facility

ATLANTA (AP) -- PRG-Schultz International Inc., a provider of recovery audit services, said Monday that it finished restructuring its debt to keep the company liquid while it turns itself around.

Shares of PRG-Schultz rose 8 cents, to 15 percent, to 61 cents in morning trading on the Nasdaq. Over the past year, shares have traded in a band of 24 cents to $5.15.

The company tendered $124.5 million, or 99.6 percent, of its 4.75 percent convertible subordinated notes due 2006, with $470,000 remaining outstanding. The company announced it would restructure its debt in December.

PRG-Schultz issued $51.6 million in 11 percent senior notes due 2011, $59.8 million in 10 percent senior convertible notes due 2011, and nearly 125,000 of 9 percent senior series A convertible participating preferred stock with a liquidation value of $14.9 million.

The company also secured a new credit facility with Ableco Finance and CIT/Group/Business Credit. The facility has a $25 million long term loan and up to $20 million in revolving loan borrowings. The company will use the facility to pay of about $1.6 million in borrowings from Bank of America, and $10.1 million in existing notes.

[dennis67]

i bought some in pre market at .63  this usualy runs for a few days after news. i think this is good  news this time.

[stocks2watch2]

Looks strong, maybe this will finally take it back over a dollar. Bought 15000.

[REALDEALS21]

Hey, Dennis + Stocks2watch2, are you both holding PRGX still Good day to add to today !

[dennis67]

i sold it yestrday at .68  i thought it would go higher this  time.if it stabilizes around .60  i might buy again.

[Av8trader]

Alot of speculation about the crazy volume and no movement today.

This link is floating around the Yahoo MB as a possible reason why.



http://finance.myway.com/jsp/nw/nwdt_ge.jsp?news_id=dji-00084120060323&feed=dji&;

[Kublakhan]

Traders might bid 0.4814 for a stock offered at 0.4800, for instance.

That characterizes PRGX trading perfectly.

There was an insane amount of volume today!