10 Jan 2025material agreement▲ GoodMajor
Battalion drew an additional $63 million under its new Fortress-led credit facility just two weeks after closing it, adding Meritz and Fortress-affiliated lenders to the syndicate.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
27 Dec 2024material agreement▲ GoodMajor
One week after the Fury deal collapsed, Battalion refinanced again, replacing its Macquarie term loan with a new $162 million (plus incremental capacity) facility from Fortress Credit Corp - moving quickly to secure its standalone financial footing.
20 Dec 2024material agreement termination▼ BadMajor
A year to the week after signing, Battalion formally terminated the Fury Resources merger agreement after Fury again failed to close - ending a saga of seven amendments, three financing defaults and one price cut (from $9.80 to $7.00/share) without the deal ever completing.
26 Nov 2024business combination▼ BadMajor
Battalion waived its right to walk away over a November 29, 2024 deadline so Fury could keep chasing 'Alternative Financing' - which, as of this filing, Fury still hadn't lined up.
22 Nov 2024director interest notice● Neutral
BATTALION OIL CORP Chief Operating Officer Daniel P Rohling received a stock option grant for 4,580 shares.
22 Nov 2024director interest notice● Neutral
BATTALION OIL CORP VP, Controller Charles E Martin received a stock option grant for 2,290 shares.
22 Nov 2024director interest notice● Neutral
BATTALION OIL CORP SVP, General Counsel Walter R Mayer received a stock option grant for 2,290 shares.
21 Nov 2024agm notice● Neutral
BATTALION OIL CORP 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).
18 Nov 2024business combination▼ BadMajor
Fury told Battalion it would miss yet another set of deadlines under the (by now seven-times-amended) merger agreement - the third round of financing defaults since the deal was first signed nearly a year earlier.
12 Nov 2024agm notice● Neutral
BATTALION OIL CORP announced its upcoming annual shareholder meeting, covering the routine agenda (director elections, auditor ratification, executive-pay advisory vote).
12 Nov 2024quarterly activities report● Neutral
BATTALION OIL CORP reported quarterly revenue of $45.3 million and net income of $21.6 million for the period ended 2024-09-30.
12 Nov 2024quarterly activities report● Neutral
BATTALION OIL CORP reported quarterly revenue of $45.3 million and net income of $21.6 million for the period ended 2024-09-30.
21 Oct 2024business combination▼ BadMajor
Battalion filed its definitive proxy for a Nov 19, 2024 stockholder vote on the Fury merger, now at $7.00 per share in cash instead of the original $9.80, after the Seventh Amendment of Sept 19, 2024. The $7.00 is 32.6% above the Dec 14, 2023 close of $5.28 and 129.5% above the $3.05 close on Sept 18, 2024. Gen IV Investment Opportunities joined Luminus and Oaktree as a party rolling over preferred stock, and the Lion Point preferred purchase agreement was terminated. The stock closed at $6.57 on Oct 18, 2024. This continues the deal, at a lower price than originally agreed.
17 Oct 2024business combination● Neutral
The going-private disclosure was amended again to add The Bralina Group as another filing person tied to the Fury transaction.
11 Oct 2024business combination● Neutral
A further amendment to the going-private disclosure updated the transaction statement as the repriced Fury deal's paperwork continued to be finalized.
8 Oct 2024agm notice● Neutral
BATTALION OIL CORP 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).
8 Oct 2024agm notice● Neutral
BATTALION OIL CORP announced its upcoming annual shareholder meeting, covering the routine agenda (director elections, auditor ratification, executive-pay advisory vote).
3 Oct 2024business combination● NeutralMajor
The going-private disclosure was updated to reflect the repriced $7.00 deal and its new participants; separately, financing exhibits show Fury's acquisition vehicle lining up a $200 million secured term loan, with AI Partners Asset Management committing half of it - real financing progress, at the lower price.
23 Sept 2024director interest notice● Neutral
BATTALION OIL CORP Chief Executive Officer Matthew Steele received a stock option grant for 50,385 shares.
23 Sept 2024director interest notice● Neutral
BATTALION OIL CORP Chief Operating Officer Daniel P Rohling received a stock option grant for 18,322 shares.
23 Sept 2024director interest notice● Neutral
BATTALION OIL CORP SVP, General Counsel Walter R Mayer received a stock option grant for 18,322 shares.
23 Sept 2024director interest notice● Neutral
BATTALION OIL CORP VP, Controller Charles E Martin received a stock option grant for 18,322 shares.
23 Sept 2024agm notice● Neutral
BATTALION OIL CORP announced its upcoming annual shareholder meeting, covering the routine agenda (director elections, auditor ratification, executive-pay advisory vote).
19 Sept 2024agm notice● Neutral
BATTALION OIL CORP announced its upcoming annual shareholder meeting, covering the routine agenda (director elections, auditor ratification, executive-pay advisory vote).
19 Sept 2024business combination▼ BadMajor
Fury came back with a materially worse offer, and Battalion's special committee accepted it: the cash merger price was cut from $9.80 to $7.00 per share, a roughly 29% reduction, with the preferred-stock rollover structure also reworked to add Gen IV Investment Opportunities as another insider rolling equity into the buyer.
11 Sept 2024agm notice● Neutral
BATTALION OIL CORP announced its upcoming annual shareholder meeting, covering the routine agenda (director elections, auditor ratification, executive-pay advisory vote).
11 Sept 2024business combination▼ BadMajor
Battalion granted Fury yet another extension, pushing the merger's outside date from September 12 to December 31, 2024 - the sixth amendment to a deal that was supposed to close by mid-2024.
28 Aug 2024agm notice● Neutral
BATTALION OIL CORP announced its upcoming annual shareholder meeting, covering the routine agenda (director elections, auditor ratification, executive-pay advisory vote).
28 Aug 2024material agreement▼ BadMajor
Separately from the stalled merger, Battalion amended its Macquarie term loan to relax its current-ratio covenant to 0.90-to-1.00 for the third quarter of 2024 - a sign of tightening liquidity while the Fury deal remained unresolved.
14 Aug 2024quarterly activities report▼ Bad
BATTALION OIL CORP reported quarterly revenue of $49.1 million and a net loss of $105 thousand for the period ended 2024-06-30.