US-based Firm Funds Saab by Buying Roughly 10% of Company

For a company that seems dead on its feet, Saab certainly seems valuable. North Street Capital, a private investment firm located in the US, paid $10 million to buy roughly 10% of Saab's shares on October 21, 2011, to immediately give the company operating capital. It also promised Saab a $60 million loan with Saab's assests as colatteral. 

North Street Capital is the same company that bought Spyker Cars in September 2011 for €32 million (about $43.5 million). 

Saab is accepting this offer because it doubts that the bridge funding promised by Youngman and Pang Da will be paid in full by October 22.