Monthly Archives: October 2016

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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…

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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…

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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…

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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…

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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…

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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….

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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…

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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…

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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…