6 Aug 2019listing compliance notice▼ BadMajor
Amplify Energy Holdings LLC terminated the registration of a class of securities, ending its reporting obligation for them.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
5 Aug 2019quarterly activities report● Neutral
Amplify Energy Holdings LLC reported quarterly revenue of $59.5 million for the period ended 2019-06-30.
5 Aug 2019quarterly activities report● Neutral
Amplify Energy Holdings LLC reported quarterly revenue of $59.5 million for the period ended 2019-06-30.
2 Aug 2019securities registration● Neutral
Amplify Energy Holdings LLC amended an already-effective registration statement.
26 July 2019business combination● Neutral
Five purported class action lawsuits by Amplify stockholders challenge the Midstates merger, alleging the joint proxy omitted or misstated material information and seeking to block the deal, plus unspecified damages. Amplify denies wrongdoing and says no extra disclosure is required, but added supplemental disclosures to avoid delay, including revised forecasts (e.g. 2019E unhedged EBITDA of $121M for Amplify) and advisor analyses, including an Amplify standalone value range of $6.39 to $9.28 per share. The Aug 2, 2019 vote is unchanged.
17 July 2019material agreement● Neutral
On July 16, 2019 Amplify's operating subsidiary signed a second amendment to its Nov 2, 2018 Bank of Montreal credit agreement, tied to the Midstates merger. If the merger and the related contribution of Midstates' subsidiary equity to Amplify's borrower are not completed by Aug 31, 2019, the lenders may redetermine the borrowing base on or after Sept 1, 2019. Other material terms were unchanged.
28 June 2019business combination● NeutralMajor
Amplify sent stockholders the definitive joint proxy for the Midstates merger, with votes at both companies on Aug 2, 2019. Holders of about 58.3% of Amplify shares have signed agreements to vote in favour, so the filing says approval is assured unless Amplify's board changes its recommendation. The fixed 0.933 exchange ratio was worth about $11.96 per Amplify share at the May 3, 2019 Midstates close but about $5.28 at the June 25, 2019 close.
9 May 2019quarterly activities report● Neutral
Amplify Energy Holdings LLC reported quarterly revenue of $65.2 million for the period ended 2019-03-31.
9 May 2019quarterly activities report● Neutral
Amplify Energy Holdings LLC reported quarterly revenue of $65.2 million for the period ended 2019-03-31.
6 May 2019business combination● NeutralMajor
On May 5, 2019 Amplify agreed to merge with Midstates Petroleum Company, Inc., with each Amplify share converting into 0.933 Midstates shares; after closing, current Amplify and Midstates stockholders would each own 50% of the combined company. The combined company would be renamed Amplify Energy Corp., be based in Houston and trade on the NYSE as AMPY (Amplify's shares were then on OTCQX). It needs approval from both companies' stockholders, an S-4 registration, antitrust clearance and NYSE listing, with an outside date of Nov 5, 2019 and a $4.5M termination fee in certain cases. The board of the combined company would have eight members, with Kenneth Mariani as CEO.
28 Dec 2018debt financing● Neutral
On Dec 21, 2018 Amplify's operating subsidiary and Amplify Acquisitionco agreed with lenders under the Nov 2, 2018 Bank of Montreal credit agreement to move the minimum hedging compliance date from Dec 31, 2018 to Feb 28, 2019. Subject to conditions, they also waived the requirement to deliver deposit account control agreements within 60 days of closing. All other material terms were unchanged. The filing does not say why the change was needed.
7 Nov 2018quarterly activities report▼ Bad
Amplify Energy Holdings LLC reported quarterly revenue of $85.5 million and a net loss of $2.6 million for the period ended 2018-09-30.
7 Nov 2018quarterly activities report▼ Bad
Amplify Energy Holdings LLC reported quarterly revenue of $85.5 million and a net loss of $2.6 million for the period ended 2018-09-30.
8 Aug 2018quarterly activities report▼ Bad
Amplify Energy Holdings LLC reported quarterly revenue of $91.0 million and a net loss of $25.3 million for the period ended 2018-06-30.
8 Aug 2018quarterly activities report▼ Bad
Amplify Energy Holdings LLC reported quarterly revenue of $91.0 million and a net loss of $25.3 million for the period ended 2018-06-30.
9 May 2018quarterly activities report● Neutral
Amplify Energy Holdings LLC reported quarterly revenue of $87.9 million and net income of $3.2 million for the period ended 2018-03-31.
9 May 2018quarterly activities report● Neutral
Amplify Energy Holdings LLC reported quarterly revenue of $87.9 million and net income of $3.2 million for the period ended 2018-03-31.
9 May 2018securities registration● Neutral
Amplify Energy Holdings LLC filed the final prospectus for a registered offering.
9 Apr 2018securities registration● Neutral
Amplify Energy Holdings LLC amended an already-effective registration statement.
17 Jan 2018securities registration● Neutral
Amplify Energy Holdings LLC filed the final prospectus for a registered offering.
6 Dec 2017debt financing● Neutral
On Nov 30, 2017 Amplify Energy Corp. (the reorganized successor) amended its May 4, 2017 credit agreement with Wells Fargo as agent. The borrowing base fell from $475M to $450M, with $2.5M monthly reductions until the next redetermination around April 1, 2018. The cash-sweep requirement above $35M was removed and the hedging requirement rose from 50% to 75% of projected proved developed producing production, with the deadline moved to April 30, 2018. The press release says total revolver debt was $388M and liquidity $77M as of Dec 5, 2017.
6 Dec 2017securities registration● Neutral
Amplify Energy Holdings LLC filed the final prospectus for a registered offering.
8 Nov 2017securities registration● Neutral
Amplify Energy Holdings LLC filed the final prospectus for a registered offering.
7 Nov 2017quarterly activities report▼ Bad
Amplify Energy Holdings LLC reported quarterly revenue of $75.6 million and a net loss of $7.5 million for the period ended 2017-09-30.
7 Nov 2017quarterly activities report▼ Bad
Amplify Energy Holdings LLC reported quarterly revenue of $75.6 million and a net loss of $7.5 million for the period ended 2017-09-30.
25 Sept 2017securities registration● Neutral
Amplify Energy Holdings LLC filed the final prospectus for a registered offering.
15 Sept 2017securities registration● Neutral
Amplify Energy Holdings LLC amended a filing by which it registered a securities offering with the SEC.
20 July 2017securities registration● Neutral
Amplify Energy Holdings LLC registered a securities offering with the SEC.
15 May 2017listing compliance notice▼ BadMajor
Amplify Energy Holdings LLC terminated the registration of a class of securities, ending its reporting obligation for them.
10 May 2017quarterly activities report▼ Bad
Amplify Energy Holdings LLC reported a quarterly net loss of $16.4 million for the period ended 2017-03-31.