2 Sept 2016substantial holder notice● Neutral
Atlas Energy Group, LLC, New Atlas Holdings, LLC reported no remaining Atlas Energy Group, LLC shareholding in its periodic institutional filing.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
9 Aug 2016quarterly activities report● Neutral
Atlas Energy Group, LLC reported quarterly revenue of $42.2 million and net income of $37.2 million for the period ended 2016-09-30.
28 July 2016bankruptcy or receivership▼ BadMajor
On July 27, 2016, Atlas Resource Partners and certain subsidiaries filed for Chapter 11 in the Southern District of New York with a pre-packaged plan backed by a Restructuring Support Agreement signed July 25 (100% of first lien and second lien lenders, about 80% of noteholders). The filing accelerated about $674M first lien, $250M second lien and $667.6M of senior notes (as of March 31, 2016); after $233.5M was repaid from hedge sales, about $440M remains on the first lien and ARP has $17M cash. Emergence is expected before the end of Q3 2016. The filing does not say what happens to Atlas Energy Group's ARP interests under the plan; the equity outcome for ARP's holders is not stated here.
15 July 2016agm notice● Neutral
Atlas Energy Group, LLC shareholders approved the routine matters put to a vote at the company's annual meeting (director elections, auditor ratification, and the executive-pay advisory vote).
12 July 2016debt financing▼ BadMajor
Atlas Resource Partners (ARP), whose general partner is Atlas Energy Group, skipped the first $143.7M-deficiency repayment installment due July 11, 2016 after its borrowing base was cut from $700M to $530M. ARP's lenders and noteholders agreed to forbear, and Riverstone waived the resulting cross-default on Atlas Energy Group's own first and second lien loans for as long as the forbearance lasts, and also waived the potential default from ARP's negotiations if a restructuring is completed before October 31, 2016. This is the cross-default risk to ARP noted in the Riverstone loan terms now materialising, but waived.
17 May 2016quarterly activities report▼ Bad
Atlas Energy Group, LLC reported quarterly revenue of -$13.8 million and a net loss of $36.1 million for the period ended 2016-06-30.
16 May 2016quarterly activities report▼ Bad
Atlas Energy Group, LLC reported quarterly revenue of -$13.8 million and a net loss of $36.1 million for the period ended 2016-06-30.
11 May 2016late filing notice▼ Bad
Atlas Energy Group, LLC notified the SEC that its quarterly report would be filed late.
29 Apr 2016capital raising announcement▼ BadMajor
On April 27, 2016 Atlas Energy Group issued the warrants promised under the March 2016 second lien: they cover up to 4,668,044 common units at $0.20 each, expire March 30, 2026, and allow cashless exercise. It also signed a registration rights agreement letting the lenders require registration of the units for resale, and amended its LLC agreement to clarify tax provisions tied to the warrants. This completes the dilution step announced in March.
What it means for a shareholder
4.7m new shares at $0.200 to raise about $933,609. That's 15% dilution: every existing holder's slice gets 15% smaller. If you held $1,000 of shares (5,000 at the issue price), your slice goes from 0.0192% to 0.0163% of the company. To keep it you'd need 897 more shares - about $179 at the issue price.
Create a free account to see this worked out for your own holding.
22 Apr 2016substantial holder notice● Neutral
Edward E. Cohen disclosed a new substantial Atlas Energy Group, LLC shareholding (7.20% of votes).
22 Apr 2016substantial holder notice● Neutral
Jonathan Z. Cohen disclosed a new substantial Atlas Energy Group, LLC shareholding (7.00% of votes).
22 Apr 2016director interest notice● Neutral
Atlas Energy Group, LLC Senior Vice President Freddie M Kotek gifted 44,514 shares.
4 Apr 2016listing compliance notice● NeutralMajor
Atlas Energy Group, LLC's exchange filed to remove a class of its securities from listing.
31 Mar 2016capital raising announcement▼ BadMajor
On March 30, 2016 Atlas Energy Group restructured its August 2015 Riverstone loan: the debt was split into a first lien of $35 million and a new second lien of $35.8 million (including a $2.4 million deemed prepayment premium), after a roughly $4.8 million prepayment. The first lien now matures September 30, 2017 and the second lien March 30, 2019. The second lien accrues interest in kind at 30%, cash distributions on common and preferred units are prohibited, and the lenders are to receive warrants for up to 15% of common units at $0.20 per unit, which would dilute existing unitholders. The same release says the 2015 annual report was filed.
18 Mar 2016listing compliance notice▼ BadMajor
On March 18, 2016 the NYSE began delisting proceedings and suspended trading in Atlas Energy Group's units because average market value fell below $15 million. The company expects the units to trade on the OTCQX from March 21, 2016 under the same ticker ATLS, and it will keep filing SEC reports. This escalates the earlier 2015-2016 NYSE notices.
16 Mar 2016director interest notice● Neutral
Leon G Cooperman became a Atlas Energy Group, LLC 10%+ owner and company insider (initial ownership filing).
16 Mar 2016late filing notice▼ Bad
Atlas Energy Group, LLC notified the SEC that its annual report would be filed late.
15 Mar 2016director interest notice● Neutral
Leon G Cooperman became a Atlas Energy Group, LLC 10%+ owner and company insider (initial ownership filing).
15 Mar 2016director interest notice● Neutral
Atlas Energy Group, LLC 10%+ owner Leon G Cooperman sold 953,639 shares.
9 Mar 2016substantial holder notice● Neutral
LEON G. COOPERMAN reported a Atlas Energy Group, LLC shareholding of 2,599,152 shares (9.99% of votes) in a periodic institutional filing.
8 Mar 2016director interest notice● Neutral
Atlas Energy Group, LLC 10%+ owner Leon G Cooperman sold 820,272 shares.
4 Mar 2016director interest notice● Neutral
Atlas Energy Group, LLC 10%+ owner Leon G Cooperman sold 235,686 shares.
1 Mar 2016director interest notice● Neutral
Leon G Cooperman became a Atlas Energy Group, LLC 10%+ owner and company insider (initial ownership filing).
1 Mar 2016director interest notice● Neutral
Atlas Energy Group, LLC 10%+ owner Leon G Cooperman sold 333,032 shares.
26 Feb 2016quarterly activities report▼ Bad
Atlas Energy Group, LLC reported quarterly revenue of $106.9 million and a net loss of $7.0 million for the period ended 2016-03-31.
5 Feb 2016substantial holder notice● Neutral
Morgan Stanley I.R.S. #, Morgan Stanley Strategic Investment reported a Atlas Energy Group, LLC shareholding of 751,882 shares (2.90% of votes) in a periodic institutional filing.
1 Feb 2016director interest notice● Neutral
Atlas Energy Group, LLC director Warren Ellen received a stock option grant for 50,000 shares.
1 Feb 2016director interest notice● Neutral
Atlas Energy Group, LLC director Craig Dolly Ann received a stock option grant for 50,000 shares.
1 Feb 2016director interest notice● Neutral
Atlas Energy Group, LLC director Jones Walter C received a stock option grant for 50,000 shares.
1 Feb 2016director interest notice● Neutral
Atlas Energy Group, LLC director Dennis A Esq Holtz received a stock option grant for 50,000 shares.