olive soap and towels on a table

Sealed Air to Spin Off Food Care Unit

Sealed Air Corporation plans to pursue the spin-off of its Diversey Care division and the food hygiene and cleaning business within its Food Care division, while the remaining Sealed Air business will continue as an independent public company. Under the plan, if effectuated, Sealed Air’s shareholders would own 100% of the common stock of New…

Autumn scene landscape of waterfalls and gorge at Letchworth State Park

Goodrich Petroleum Emerges from Chapter 11

Goodrich Petroleum Corporation (the “Company”) today announced that it has satisfied the conditions precedent to the effectiveness of its First Amended Joint Chapter 11 Plan of Reorganization (the “Plan of Reorganization”), which was confirmed by the United States Bankruptcy Court for the Southern District of Texas on September 28, 2016, and has emerged from bankruptcy….

Colmar, Petit Venice, at dusk water canal and traditional colorful houses. Alsace, France.

Q Calls Out Quorum Health’s BoD

CYH is a case study in how a company actively destroys shareholder value via “empire-building”.  Also, I am not sure if non-institutional investors (or even many institutional investors, for that matter) are aware of the fact that before effectuating a spin-off, managements go around on non-deal road shows to make presentations.  This contradicts the notion…


Warren Resources Emerges from Chapter 11

Warren Resources, Inc. announced the satisfaction of all conditions precedent to the effective date of its Chapter 11 plan of reorganization.  Accordingly, after approximately four months of court proceedings, Warren has successfully emerged from Chapter 11 bankruptcy protection, with an improved balance sheet and a viable capital structure. Warren’s bankruptcy proceeding began on June 2,…


Arch Coal Emerges from Chapter 11

Arch Coal, Inc. has successfully completed its financial restructuring and emerged from court protection, with new equity that will trade on the New York Stock Exchange under the ticker symbol ARCH. “Today marks the beginning of a new era for Arch Coal,” said John W. Eaves, Arch’s chief executive officer. “We are extremely pleased with…


SandRidge Energy Emerges from Chapter 11

SandRidge Energy, Inc. has emerged from Chapter 11, having satisfied all the necessary provisions of its Plan of Reorganization (the “Plan”). SandRidge received approval to relist on the New York Stock Exchange in conjunction with its emergence and resumed trading of newly issued common stock on October 4, 2016, under the ticker symbol “SD”. Combining its…

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An Opp to Top-Tick Mentor on Elliott’s 13D?

The Reporting Persons believe the securities of the Issuer are deeply undervalued. The Reporting Persons believe there are numerous operational opportunities, including enhancing operational efficiency and revenue quality, as well as strategic opportunities for the Issuer that would improve shareholder value.  The Reporting Persons have initiated a dialogue with the Issuer’s Management and Board of…


Fondren Mgmt Concerned Re CDI Governance

The Reporting Persons purchased the Shares based on the Reporting Persons’ belief that the Shares, when purchased, were undervalued and represented an attractive investment opportunity.  Depending upon overall market conditions, other investment opportunities available to the Reporting Persons, and the availability of Shares at prices that would make the purchase or sale of Shares desirable, the…

Sandstone formations in Utah, USA

Breithorn Urges Kulicke to Look for Buyers

28 September 2016 Garrett E. Pierce, Chairman Kulicke and Soffa Industries, Inc. 23A Serangoon North Avenue 5, #01-01 K&S Corporate Headquarters Singapore 554369 Dear Members of the Board: As you know, Breithorn Capital Management (“Breithorn”) beneficially owns approximately 1.1% of the outstanding shares of Kulicke & Soffa Industries, Inc. (“K&S” or the “Company”). Breithorn is…


Westell Technologies The Definition of Insanity

At the annual shareholders meeting of Westell Technologies, Inc. on September 13th, 2016, 72% of shareholders not-affiliated with the Penny family trust withheld support for both Robert C. Penny III and his nephew Robert Foskett. “This is a clear repudiation of Business as usual at Westell,” states Jeffrey Bronchick, CFA, the lead Principal of Cove…


Edenbrook Wants Fair Sale Process for YuMe

Edenbrook Capital, LLC Purpose of Transaction. The Reporting Persons acquired the Common Stock to which this Schedule 13D relates for investment purposes in the ordinary course of business. The Reporting Persons acquired the Common Stock because they believed that the Common Stock reported herein, when purchased, represented an attractive investment opportunity. On September 14, the…


VIEX Capital Files 13D on Seachange

Years ago, it was Starboard, then Roumell took a shot at it. Now VIEX has decided to go activist on this flunky.. I think the cash balance keeps attracting funds to it but look at the long term stock price chart. Purpose of Transaction The Reporting Persons purchased the Shares based on the Reporting Persons’…


Lawndale Calls Willbros Governance Archaic

The Filers (“Lawndale”) have been in contact with Willbros Group’s (“WG”, “Willbros” or the “Company”) management and members of Willbros’ Board of Directors regarding concerns relating to the Company’s corporate governance practices and board composition. Beginning in 2015, Lawndale requested implementation of constructive changes that would improve corporate governance, in general, and the accountability of…


Great Elm to Conduct Rights Offering

Great Elm Capital Group, Inc. (GEC), has filed a registration statement with the Securities and Exchange Commission for a proposed rights offering to holders of its common stock. If the rights offering is fully subscribed, Great Elm Capital Group expects $45 million of gross proceeds that will be used for general corporate purposes, which may…

Close up of  fishing fly reel, landing net, creel and assorted flies on dry river bed rocks

Atlas Resources Emerges from Ch 11 as Titan Energy

Titan Energy, LLC and its subsidiaries has commenced operations as an independent developer and producer of natural gas, crude oil and natural gas liquids with operations in basins across the United States. Atlas Energy Group, LLC, a Delaware limited liability company, operates the Company through a subsidiary and holds a 2% preferred member interest. Titan’s…

Old letter

Penn Virginia Emerges from Chapter 11

Penn Virginia Corporation has satisfied the conditions precedent to the effectiveness of its Plan of Reorganization, which was confirmed by the U.S. Bankruptcy Court for the Eastern District of Virginia on August 11, 2016, and has emerged from bankruptcy. By working constructively with its creditors and other stakeholders, Penn Virginia emerged from bankruptcy having reduced…

Female beagle dog portrait, acrylic painting on canvas

HPE to Spin Off Non-Core Assets

Hewlett Packard Enterprise will spin-off and merge its non-core software assets with Micro Focus (LSE:MCRO) in a transaction valued at approximately $8.8 billion. The combination of these software assets — which includes HPE’s Application Delivery Management, Big Data, Enterprise Security, Information Management & Governance and IT Operations Management businesses — and Micro Focus’ highly complementary portfolio…


Halcón Resources Emerges from Chapter 11

Halcón Resources Corporation has completed its financial restructuring and has emerged from its pre-packaged chapter 11 bankruptcy cases.  All of the conditions under its Plan of Reorganization, which was confirmed by the US Bankruptcy Court for the District of Delaware on September 8, 2016, have been satisfied or otherwise waived in accordance with the terms…

fresh plums in bowl and on a table

VIEX Capital Sees Opportunity in Immersion

Purpose of Transaction. Item 4 is hereby amended to add the following: The Reporting Persons believe the Shares are materially undervalued.  The Reporting Persons believe that the Issuer operates in a highly strategic area of the technology industry with an attractive competitive position and a compelling product, its touch feedback technology, the value of which…

Detox water

Ocwen Revived: Where Do We Go From Here?

On June 17, 2016, I had posted on Oozing Alpha Has Ocwen Stock Been Sufficiently De-Risked? Since that post: The company reported significantly improved Q2 results on July 27. During Q2 earnings call, it announced that it is negotiating with California regulator (CA DBO) and has set aside a $15 million reserve for a potential settlement,…