ceramics painted blue shapes plate typical from Spain
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Overseas Shipholding Completes INSW Spin-Off

Overseas Shipholding Group, Inc. has completed the previously announced separation of OSG into two independent, publicly traded companies: Overseas Shipholding Group and International Seaways (NYSE:INSW). “Today marks the start of an exciting new chapter for OSG. We are now a more sharply focused company with a leading and diversified position in the Jones Act market,”…

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Raging Involved in GulfMark Re-Capitalization

Purpose of Transaction. Item 4 is hereby amended to add the following: On November 23, 2016, the Issuer entered into a Securities Purchase Agreement (the “Purchase Agreement”) with MFP Partners, L.P. (“MFP”) and Franklin Mutual Advisers, LLC (“Franklin” and collectively with MFP, the “Investors”), to issue and sell in a private placement (the “Private Placement”)…

Sandstone formations in Utah, USA
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Huntsman Files Form 10 for Spin-Off

Form 10 Highlights On October 28, 2016, our subsidiary, temporarily named Huntsman Spin Corporation, filed an initial Form 10 registration statement with the U.S. Securities and Exchange Commission for the previously announced spin-off of our Pigments & Additives and Textile Effects businesses. Subject to market conditions, we plan to separate these businesses from Huntsman in…

Candles
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Erickson Files Chapter 11

Erickson Incorporated (EAC) (the “Company”), a leading global provider of aviation services, announced today that it and certain of its subsidiaries filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Northern District of Texas, Dallas Division. During the Chapter 11 process, Erickson…

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Stadium Capital Files 13D on Ascena .. Ugh

The Filers purchased the Common Stock of the Issuer for investment purposes. The Filers are engaged in the investment advisory business. In pursuing this business, the Filers will routinely monitor the Issuer with regard to a wide variety of factors that affect their investment considerations, including, without limitation, current and anticipated future trading prices for…

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Saratoga Resources Emerges from Ch 11… Again

Saratoga Resources, Inc. (OTC Pink Market: SARAQ) (“Company” or “Saratoga”) announced today that the Company filed with the U.S. Bankruptcy Court a notice of satisfaction of the conditions of effectiveness of its Joint Chapter 11 Plan of Reorganization filed as of August 30, 2016 (the “Plan”), whereupon Saratoga, and its subsidiaries, emerged from chapter 11…

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Elliott Calls Alcoa Spin Dramatically Undervalued

Item 4. Purpose of Transaction. Item 4 is hereby amended to add the following: This Schedule 13D is being amended as a result of an increase in the Reporting Persons’ combined economic exposure from approximately 7.5% to approximately 9.0%. The Reporting Persons believe that following the recently completed separation, the Issuer’s shares are dramatically undervalued…

Close up of  fishing fly reel, landing net, creel and assorted flies on dry river bed rocks
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Vornado to Spin Off DC Unit

VORNADO REALTY TRUST has approved a tax-free spin-off of its Washington, DC business, currently known as Vornado/Charles E. Smith, and that it has entered into a definitive agreement to merge SpinCo with the operating company and certain select assets of The JBG Companies (“JBG”), a leading Washington, DC real estate company. The combined company will…

Old letter
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GAIA: Under-The-Radar Hyper-Growth 5-Bagger

  Bottom-Line: Gaia has a $6 stock; The company has net cash of $4 per share, owns an unencumbered office building with a market value of $1.35-$1.65 per share and a video-streaming business growing subscribers at 50%-80% per annum. CEO Jirka Rysavy, a serial entrepreneur and the largest GAIA stock holder, has a proven track record…

Female beagle dog portrait, acrylic painting on canvas
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Overstock.com Rights Offering to Demo What?!

Overstock.com has approved a non-transferable rights offering. The offering will allow Overstock’s stockholders of record to purchase shares of its preferred stock, including preferred shares to be issued and traded exclusively on a registered alternative trading system using the t0 issuance and trading platform developed by Overstock’s majority-owned financial technology subsidiary t0. Overstock is planning the…

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Basic Energy Services Files Chapter 11

Basic Energy Services, Inc. and certain subsidiaries have 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 in accordance with its previously announced restructuring support agreement with creditors to effectuate a comprehensive balance sheet restructuring. The RSA…

fresh plums in bowl and on a table
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Post-Reorg SIGA Commences Rights Offering

SIGA Technologies, Inc.  has commenced a rights offering for approximate gross proceeds of $35,000,000. As part of the Rights Offering, each stockholder of the Company is receiving one subscription right for each share of common stock owned as of the previously announced record date of October 12, 2016. Each subscription right will entitle its holder…

Detox water
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Midstates Petroleum Emerges from Chapter 11

Midstates Petroleum Company, Inc. has emerged from Chapter 11 bankruptcy protection, after satisfying all of the conditions precedent to the effectiveness of its Plan of Reorganization, which was confirmed by the U.S. Bankruptcy Court for the Southern District of Texas on September 29, 2016. With the completion of its restructuring, the Company has eliminated approximately…

olive soap and towels on a table
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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
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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.
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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…

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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,…

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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…

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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…