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Raging Capital Files 13D on Rentech

Purpose of Transaction. The Reporting Persons believe that the securities of the Issuer are significantly undervalued and represent an attractive investment opportunity.  The Reporting Persons seek to engage in a constructive dialogue with the Issuer’s Board of Directors regarding opportunities to maximize shareholder value. Depending upon overall market conditions, other investment opportunities available to the Reporting…

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Highland Capital Presentation on RAIT Financial

On February 8, 2017, NexPoint Real Estate Advisors, LP, an affiliate of Highland Capital, sent a slide deck presentation (the “Presentation”) to the board of trustees of the Issuer. The Presentation provides additional information on the plans or proposals disclosed in earlier amendments to the Schedule 13D, and also contained in letters delivered to Mr. Michael J. Malter,…

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Vanguard Natural Resources Files Chapter 11

Link to Docket: http://cases.primeclerk.com/vanguard Vanguard Natural Resources, LLC (VNR) (together with its wholly owned subsidiaries, collectively, “Vanguard” or the “Company”) today announced that the Company has voluntarily filed petitions for relief under chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of Texas, Houston Division (the “Court”).  In connection…

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Azure Midstream Files Chapter 11

Bankruptcy Docket: www.kccllc.net/azuremlp Azure Midstream Partners, LP (the “Company“) (AZUR) today announced that the Company, along with its affiliates and certain subsidiaries, commenced Chapter 11 cases in the United States Bankruptcy Court for the Southern District of Texas in its continuing efforts to manage its debt obligations and conserve its going concern value. The Company anticipates…

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Why Ingevity Spin-Off Quickly 2-Bagged?

I recently updated the spreadsheet in which I track spinoff pipeline and post-spin stock performance.  Next I pulled up stock charts of spins from the past 12 months: I noticed a mix of losers, winners and even some flat-liners.   But one thing becomes crystal clear in looking at these charts: A very large majority…

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Ancora Wants Edgewater Board Held Accountable

Ancora Advisors Delivers Letter to Edgewater Technology Stockholders Responds to the Board’s Recent Letter Filled with Scare Tactics and Half-Truths Designed to Protect the Problematic and Value-Destructive Status Quo Confident that Stockholders Will See Directly Through Edgewater’s Obvious Distortions and Misrepresentations and Focus on the Facts Highlights the Real Issues that the Board Is Trying…

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Don’t Fret This Ocwen Short Attack

Quick commentary by Ocwen shareholder John Devaney of United Capital Markets (unedited): Yesterday Ocwen Financial Corp ( NYSE: OCN) declined 13%.     I continue to be a substantial holder of Ocwen Equity and supporter of the company and their  future prospects..   I’ve followed the “trade flows”, news, and  the fundaments for almost two years  now.      I continue …

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Interexon Spinoff Aquabounty Trading When-Issued

Intrexon Corporation, a leader in the engineering and industrialization of biology to improve the quality of life and health of the planet, today announced that, in connection with the previously announced special stock dividend of 1,776,557 shares of AquaBounty Technologies, Inc. (“AquaBounty”) common stock (after taking into account the 1:30 reverse stock split of AquaBounty…

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Icahn Enterprises to Conduct Rights Offering

Icahn Enterprises L.P. (IEP) (“Icahn Enterprises”) announced today that the board of directors of its general partner approved a rights offering to raise proceeds of approximately $600 million. The purposes of the rights offering are: (i) to enhance Icahn Enterprises’ depositary unit holder equity; (ii) to endeavor to improve Icahn Enterprises’ credit ratings; and (iii)…

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C&J Energy Emerges from Chapter 11

C&J Energy Services, Inc. (as successor to C&J Energy Services Ltd. (“Legacy C&J”), and together with its subsidiaries, “C&J” or the “Company”) today announced that effective as of January 6, 2017, the Company has successfully completed its financial restructuring and emerged from Chapter 11 bankruptcy, having satisfied all of the conditions to the effectiveness of its…

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Bonanza Creek Files Chapter 11

Link to Docket: https://cases.primeclerk.com/bcei Bonanza Creek Energy, Inc. (BCEI) (“Bonanza Creek” or the “Company”) and certain subsidiaries today announced that they had filed voluntary petitions under Chapter 11 of the United States Bankruptcy Code in the Bankruptcy Court for the District of Delaware to pursue a prepackaged plan of reorganization (“Prepackaged Plan”), in accordance with the…

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Energy XXI Emerges from Chapter 11

Energy XXI Ltd has successfully completed its financial restructuring and emerged from Chapter 11. Through this process, Energy XXI has substantially improved its financial position by eliminating more than $3.6 billion of debt from its balance sheet. Since its founding in 2005, Energy XXI has become one of the largest operators on the Gulf of…

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Basic Energy Services Emerges from Chapter 11

Basic Energy Services, Inc. To Continue Listing New Shares Of Common Stock And Resume Trading Under Ticker “BAS” Following Emergence From Chapter 11 Reorganization FORT WORTH, Texas, Dec. 22, 2016 /PRNewswire/ — Basic Energy Services, Inc. (NYSE: BAS) (“Basic” or the “Company”) today announced that the Company received approval to list its new common stock with…

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Dakota Plains Files Chapter 11

Dakota Plains Holdings, Inc.  and six of its wholly owned subsidiaries filed voluntary Chapter 11 petitions in the United States Bankruptcy Court for the District of Minnesota (the “Bankruptcy Court”) on Tuesday, December 20, 2016, initiating a process intended to preserve value and accommodate an eventual going-concern sale of Dakota Plains’ business operations. Dakota Plains…

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Violin Memory Files Chapter 11

Link to Docket: https://cases.primeclerk.com/VMEM Violin Memory has commenced a process to streamline its operations and balance sheet, while simultaneously pursuing a sale of its business to a buyer committed to supporting its core customer base. To facilitate this restructuring, Violin Memory has filed a voluntary petition for reorganization under chapter 11 of the U.S. Bankruptcy Code…

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Stone Energy Corp Files Chapter 11

Link to Docket: http://dm.epiq11.com/StoneEnergy Stone Energy Corporation (NYSE: SGY) (“Stone” or the “Company”), and its domestic subsidiaries (together with the Company, the “Debtors”), today announced that they had filed voluntary petitions under chapter 11 of title 11 of the United States Code (the “Bankruptcy Code”) in the United States Bankruptcy Court for the Southern District of…