Novation Holdings Inc. · OTC:NOHO
Novation — Novastar Financial — Q3 2007 Earnings Presentation
7 slides from Novation's earnings presentation, Nov 15, 2007
Slide 1: NovaStar Financial 2007 Third Quarter Earnings Conference Call
NovaStar Financial (NYSE-NFI) 2007 Third Quarter Earnings Conference Call November 15, 2007
Slide 2: Safe Harbor Statement
Safe Harbor Statement Statements in this presentation and made during the earnings call regarding NovaStar Financial, Inc. and its business, which are not historical facts, are “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Forward
Slide 3: Third Quarter Review
Third Quarter Review Greg Metz, CFO
Slide 4: Significant Non-Cash Items
Significant Non-Cash Items For the quarter ended September 30, 2007, NovaStar reported a net loss available to common shareholders of $598.0 million, or $64.05 per fully diluted common share.
Slide 5: Actions Implemented in Third Quarter
Actions Implemented in Third Quarter We raised $48.8 million in equity capital in July through a sale of convertible preferred securities to institutional investors. As conditions deteriorated further, additional fundraising through a shareholder rights offering was canceled in September We suspende
Slide 6: Additional Steps Taken Subsequent to September 30, 2007
Additional Steps Taken Subsequent to September 30, 2007 We sold mortgage servicing rights and servicing advances related to securitized loans to another servicer for proceeds of approximately $147 million, after deduction of certain expenses and a $7.9 million holdback, closing the transaction on No
Slide 7: Questions
Questions