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Dover Corp May Spinoff/Sell Energy Bizs

DOWNERS GROVE, Ill., September 12, 2017 – Dover (NYSE: DOV) today announced that it is exploring strategic alternatives for the separation of its upstream energy businesses within its Energy segment, collectively, the “Wellsite” business. The Company is considering options which may include a tax-free spin-off, sale or other strategic combination. Dover’s Wellsite business, including Dover Artificial…

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Seadrill Files Chapter 11

Hamilton, Bermuda, September 12, 2017 – Seadrill Limited (“Seadrill” or the “Company”) has entered into a restructuring agreement with more than 97 percent of its secured bank lenders, approximately 40 percent of its bondholders and a consortium of investors led by its largest shareholder, Hemen Holding Ltd. The agreement delivers $1.06 billion of new capital comprised…

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AM Castle Emerges from Chapter 11

OAK BROOK, IL, August 31, 2017 – A.M. Castle & Co. (OTC Pink: CASLQ) (the “Company” or “Castle”), a global distributor of specialty metal and supply chain solutions, today announced that it has emerged from its voluntary chapter 11 proceedings before the United States Bankruptcy Court for the District of Delaware commenced on June 18,…

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DowDuPont to Spin Into 3 in 18 Months

MIDLAND, Mich., and WILMINGTON, Del. – September 01, 2017 –DowDuPont™ (NYSE:DWDP) today announced the successful completion of the merger of equals between The Dow Chemical Company (“Dow”) and E.I. du Pont de Nemours & Company (“DuPont”), effective Aug. 31, 2017. The combined entity is operating as a holding company under the name “DowDuPont™” with three…

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CONSOL Updates on Spin-Off Timing

PITTSBURGH, Sept. 5, 2017 /PRNewswire/ — CONSOL Energy Inc. (NYSE: CNX) announced today several updates in connection with its participation in the Barclays CEO Energy-Power Conference in New York. First, in order to provide better clarity and visibility to the market with respect to the company achieving its strategic goal of separating its coal and E&P businesses, the…

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NACCO Industries Files for Spin-Off

CLEVELAND, Aug. 21, 2017 /PRNewswire/ — NACCO Industries, Inc. (NYSE: NC) announced today that its wholly owned subsidiary, Hamilton Beach Brands Holding Company, has filed a registration statement with the U.S. Securities and Exchange Commission relating to a proposed spin-off by NACCO of its housewares-related businesses to NACCO stockholders.  Hamilton Beach Brands Holding Company, as an independent public company, will own and operate…

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Crossroads Files Chapter 11

AUSTIN, Texas, Aug. 14, 2017 /PRNewswire/ — Crossroads Systems, Inc., (NASDAQ: CRDS) today announced that it has filed a case under Chapter 11 of the Bankruptcy Code and a prepackaged Chapter 11 plan of reorganization (“Plan”) that has been accepted by the holders of more than 2/3 of the Preferred Shares of CRDS.  In connection with the filing, the…

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Nuverra Emerges from Chapter 11

Nuverra Environmental Solutions, Inc. (“Nuverra” or the “Company”) announced today that, on August 7, 2017 (the “Effective Date”), the Company and its material subsidiaries emerged from Bankruptcy protection under chapter 11 of the United States Bankruptcy Code.  Pursuant to their Amended Joint Plans of Reorganization (collectively, the “Plan”), which were confirmed by the United States Bankruptcy Court…

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Spirit Realty to Spin Off REIT

DALLAS, Aug. 3, 2017 /PRNewswire/ — Spirit Realty Capital, Inc. (NYSE: SRC) (“Spirit” or the “Company”), a premier net lease real estate investment trust (REIT) that primarily invests in single-tenant, operationally essential real estate, today announced the planned spin-off of a separate publicly traded REIT (“SpinCo”). SPIN-OFF HIGHLIGHTS SpinCo Expected to Have $2.7 Billion in Gross Real…

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Vanguard Natural Emerges from Chapter 11

Houston – August 1, 2017 – (PR NEWSWIRE) – Vanguard Natural Resources, LLC announces that it successfully completed its financial restructuring and emerged from Chapter 11 as a new corporation under the name of Vanguard Natural Resources, Inc. (“Vanguard” or the “Company”). Through its financial restructuring and the sale of non-core assets while in Chapter 11,…

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Wyndham to Spin Off Time-Share Unit

PARSIPPANY, N.J., Aug. 2, 2017 /PRNewswire/ — Wyndham Worldwide (NYSE: WYN) today announced plans to spin off the company’s hotel business resulting in two separate, publicly traded companies.  Wyndham Hotel Group, with headquarters in Parsippany, NJ, will become a new, publicly traded pure-play hotel company with a portfolio of renowned brands.  Wyndham Vacation Ownership, with headquarters in Orlando, Florida, will be the…

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La Quinta Registers CorePoint Spin Off

La Quinta Holdings Inc. (the “Company”) LQ, -0.80% announced that a Form 10 Registration Statement was filed today with the U.S. Securities and Exchange Commission (“SEC”) with respect to the previously announced planned separation of its real estate business, which is to be named CorePoint Lodging Inc. (“CorePoint Lodging” or “CorePoint”) from its franchise and management businesses (“new…

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Redknee Gets Approval for Rights Offering

TORONTO, July 25, 2017 /CNW/ – Redknee Solutions Inc. (“Redknee” or the “Company”) (RKN.TO) announces that it has received shareholder approval for its previously announced rights offering (the “Rights Offering”). The net proceeds of the Rights Offering will be used to fund a restructuring of the business in furtherance of the previously announced strategic plan (the “Strategic Plan”)….

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ServiceMaster to Spin Off Warranty Unit

ServiceMaster Global Holdings, Inc. (“ServiceMaster” or the “Company”) (SERV), a leading provider of essential residential and commercial services, today announced its intention to separate its American Home Shield (AHS) business from its Terminix and Franchise Services Group (FSG) businesses, as well as the appointment of Nikhil Varty as Chief Executive Officer of the Company and…

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Tidewater Chapter 11 Plan Confirmed

NEW ORLEANS, July 13, 2017 /PRNewswire/ — Tidewater Inc. (NYSE: TDW) (“Tidewater” or the “Company”) today announced that the United States Bankruptcy Court for the District of Delaware(the “Court”) has confirmed the Second Amended Joint Prepackaged Chapter 11 Plan of Reorganization of Tidewater and its Affiliated Debtors, originally dated May 17, 2017 and amended on July 12, 2017 and July 13, 2017 (the “Plan”).  The Company…

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CONSOL Energy Files Form 10 for Coal Spin-off

PITTSBURGH, July 11, 2017 /PRNewswire/ — CONSOL Energy Inc. (NYSE: CNX) (Company) announced today the filing of a registration statement on Form 10 with the U.S. Securities and Exchange Commission (SEC), an important milestone in the Company’s previously announced plan to separate CONSOL Energy Inc. into two publicly-traded companies: a coal company and a natural gas exploration and…

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Vince Holding to Conduct Rights Offering.. Again

07/05/2017 NEW YORK–(BUSINESS WIRE)– Vince Holding Corp. (NYSE:VNCE), a leading global luxury apparel and accessories brand (“Vince” or the “Company”), today announced that it has filed a registration statement on Form S-3, including a preliminary prospectus, with the Securities and Exchange Commission (the “SEC”) for a proposed rights offering to existing stockholders (the “Rights Offering”). Under the proposed Rights…

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MetLife Sets Terms for Brighthouse Spin

NEW YORK–(BUSINESS WIRE)–Jun. 29, 2017– MetLife, Inc. (NYSE: MET) today announced that its board of directors has approved the spin-off of Brighthouse Financial, subject to the U.S. Securities and Exchange Commission’s (SEC) declaration that the Brighthouse Financial, Inc. Registration Statement on Form 10 is effective. In addition, all necessary state insurance regulatory approvals have been granted. Subject to the SEC’s timely…

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Vornado Announces Record Date for JBGS Spin

NEW YORK, NY–(Marketwired – June 26, 2017) – VORNADO REALTY TRUST (NYSE: VNO) (“Vornado”) announced today that its Board of Trustees has established July 7, 2017 as the record date (the “Record Date”) for its previously announced spin-off of its subsidiary, JBG SMITH Properties (“JBG SMITH”), which will hold Vornado’s Washington, DC business, currently known…

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Maguire Capital Loading up on Inseego

EX-99.1 2 ex991to13da409896004b_061617.htm LETTER TO THE CEO Exhibit 99.1 Electronic delivery 6/15/17 To: Dan Mondor, CEO Inseego Cc: Phillip Falcone, Chairman of the Board Inseego Cc: Bob Pons, Director Inseego Dan, Thanks for taking the time to meet yesterday and share your plan to turn around Inseego. I left our meeting thinking, we finally have…

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