I don’t know how they pulled it off, but according to The Wall Street Journal they managed to do it. The SCO Group has managed to raise enough money to keep fighting in the courts against Novell.

SCO Group Inc. said private equity firm Stephen Norris Capital Partners and partners in the Middle East will provide up to $100 million to finance SCO’s efforts to go private and get out of bankruptcy.

The move gives Stephen Norris, whose namesake founder was a co-founder of private equity giant The Carlyle Group, a controlling interest in SCO, which now has a platform to continue its court battle with Novell Inc. over royalties from the Unix server operating system, SCO’s main business.

SCO Gets Up to $100 Million Financing – The Wall Street Journal

I’m sorry, but how can they seriously consider this a good investment? Is not the legal requirement of the board of any organisation to grow the investment of share and stake holders?

Admittedly, this has boosted their share price by over 30%, but given SCOX’s current price is now $0.115 a share at the time I write this, that $100,000,000 is almost 870,000,000 shares of the company. For a company that filed Chapter 11 not that long ago, that’s a pretty significant investment.

Means they’re still around for a while longer yet. They’re worse than a bad smell.