Past year: ▼ 100%(0.06c – 25.0c USD)
Each one in plain English, with the numbers worked through for a shareholder.
9 Apr 2018capital raising announcement● NeutralMajor
Yorktown Energy Partners XI put $5 million into a newly created class of convertible preferred stock at $100 a share - Carbon's first designated preferred since the 2011 Series A - with the money earmarked for a capital call at one of the ventures. The controlling shareholder was again the funder of first resort.
7 Feb 2018capital raising announcement● Neutral
The matching California warrant was exercised the same way, for 1,527,778 shares. Its exercise price had been restated from $0.36 to $7.20 by the one-for-twenty share consolidation Carbon carried out in March 2017.
7 Nov 2017capital raising announcement● Neutral
The warrant issued to Yorktown's affiliate when the Appalachian venture was formed was exercised in full, paid for in venture units rather than cash, and Carbon issued 432,051 shares.
4 Apr 2017capital raising announcement▲ GoodMajor
Carbon repeated the California structure in Appalachia: Carbon Appalachian Company was formed with two institutional investors and $100 million of equity commitments to buy producing southern Appalachian assets. Carbon put in only $2 million for 2% but manages the venture, holds a 1% carried interest and can earn up to a further 20% once the outside investors clear their return hurdle.
21 Feb 2017capital raising announcement▲ GoodMajor
Carbon opened a second front in California through a new vehicle, Carbon California Company: two institutional investors put in $22 million of equity plus up to $35 million of notes, and the venture bought Ventura Basin oil and gas assets from three sellers. Carbon took 17.8% of the venture and the manager's role for no cash, was paid $500,000 for doing the deal work, and issued its backers a warrant exercisable only with units of the venture itself.
