30 Sept 2020director interest notice● Neutral
CNX Resources Corp Chief Excellence Officer Olayemi Akinkugbe received 5,780 shares as part of the equity award.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
30 Sept 2020director interest notice● Neutral
CNX Resources Corp insider Maureen Lally-green received 1,320 shares as part of the equity award.
29 Sept 2020substantial holder notice● Neutral
CNX Resources Corporation, CNX Gas LLC, CNX Gas Company LLC, CNX Gas Holdings, Inc reported a CNX Resources Corp shareholding of 89,799,224 shares (100.00% of votes) in a periodic institutional filing.
28 Sept 2020business combination▲ GoodMajor
CNX completed its buy-in of CNX Midstream Partners: public common units converted into CNX shares at the agreed 0.88 ratio, and CNX Midstream units were suspended from NYSE trading - ending the MLP structure that began as the CONSOL/Noble Energy CONE Midstream joint venture.
23 Sept 2020debt financing▲ Good
CNX closed the $200 million add-on offering of 7.25% 2027 notes at 103.5% of par, using proceeds to redeem its remaining 5.875% 2022 notes and push out its next debt maturity to 2026.
9 Sept 2020merger communication● Neutral
CNX filed another Rule 425 communication ahead of the CNX Midstream Partners unitholder vote on the merger.
9 Sept 2020material agreement● Neutral
Separately from the midstream merger, CNX agreed to a private offering of an additional $200 million of its 7.25% senior notes due 2027.
8 Sept 2020merger communication● Neutral
CNX filed a Rule 425 communication (proxy solicitation material) ahead of the CNX Midstream Partners unitholder vote on the merger.
28 Aug 2020securities registration● Neutral
CNX Resources Corp filed the final prospectus for a registered offering.
25 Aug 2020business combination● Neutral
Amendment No. 1 set the mechanics of the CNX Midstream buy-in: an August 27, 2020 record date, a written-consent process closing September 25 rather than a meeting, and the counsel's legality opinion the SEC needs before the registration can go effective. It also stated plainly that CNX subsidiaries already held about 51.4% of the limited partner interests, so the majority consent required to approve the merger was in CNX's own hands.
12 Aug 2020business combination● NeutralMajor
Registration statement for CNX buying in the public units of its own midstream affiliate, CNX Midstream Partners, at 0.88 CNX shares per unit - an implied $8.47 a unit on the day before the deal was announced, plus one extra $0.4171 distribution, and better than CNX's opening proposal. The partnership's conflicts committee got its own adviser, Intrepid Partners, but unitholders have no appraisal rights and lose their quarterly distributions once they become CNX shareholders.
3 Aug 2020quarterly activities report▼ Bad
CNX Resources Corp reported quarterly revenue of $148.8 million and a net loss of $145.7 million for the period ended 2020-06-30.
31 July 2020merger communication● Neutral
CNX filed another Rule 425 communication regarding the pending CNX Midstream Partners buy-in merger.
30 July 2020merger communication● Neutral
CNX filed another Rule 425 communication regarding the pending CNX Midstream Partners buy-in merger.
30 July 2020quarterly activities report▼ Bad
CNX Resources Corp reported quarterly revenue of $148.8 million and a net loss of $145.7 million for the period ended 2020-06-30.
28 July 2020merger communication● Neutral
CNX filed another Rule 425 communication regarding the pending CNX Midstream Partners buy-in merger.
27 July 2020merger communication● Neutral
CNX filed a Rule 425 communication to unitholders in connection with its just-announced merger to acquire the rest of CNX Midstream Partners.
27 July 2020substantial holder notice● Neutral
CNX Resources Corporation, CNX Gas LLC, CNX Gas Company LLC, CNX Gas Holdings, Inc reported a CNX Resources Corp shareholding of 47,692,198 shares (53.10% of votes) in a periodic institutional filing.
27 July 2020merger communication● Neutral
CNX filed another Rule 425 communication regarding the pending CNX Midstream Partners buy-in merger.
27 July 2020business combination▲ GoodMajor
CNX agreed to buy in all of the publicly held common units of CNX Midstream Partners it didn't already own, exchanging each for 0.88 shares of CNX stock and taking the midstream MLP fully private as a wholly owned subsidiary.
10 June 2020substantial holder notice● Neutral
Southeastern Asset Management, Inc. I.D. No, Longleaf Partners Fund I.D. No, Longleaf Partners Small-Cap Fund I.D. No, O. Mason Hawkins I.D. No. XXX-XX-XXXX reported a CNX Resources Corp shareholding of 37,272,640 shares (19.90% of votes) in a periodic institutional filing.
15 May 2020director interest notice● Neutral
Stephanie L Gill became a CNX Resources Corp SVP, GC and Secretary and company insider (initial ownership filing).
8 May 2020director interest notice● Neutral
CNX Resources Corp insider Maureen Lally-green received 21,473 shares as part of the equity award.
8 May 2020director interest notice● Neutral
CNX Resources Corp insider William N Thorndike Jr. received 50,802 shares and a 18,503-share option grant as part of the equity award.
8 May 2020director interest notice● Neutral
CNX Resources Corp insider Bernard Lanigan Jr. received 18,019 shares as part of the equity award.
8 May 2020director interest notice● Neutral
CNX Resources Corp insider J. Palmer Clarkson received 30,032 shares as part of the equity award.
8 May 2020director interest notice● Neutral
CNX Resources Corp insider Ian R Mcguire received 30,032 shares as part of the equity award.
28 Apr 2020material agreement▼ BadMajor
As COVID-19 hit commodity markets, CNX's lenders cut its credit-facility borrowing base from $2.3 billion to $1.9 billion and capped how much balance-sheet cash it could hold.
27 Apr 2020quarterly activities report▼ Bad
CNX Resources Corp reported quarterly revenue of $416.4 million and a net loss of $329.1 million for the period ended 2020-03-31.
27 Apr 2020quarterly activities report▼ Bad
CNX Resources Corp reported quarterly revenue of $416.4 million and a net loss of $329.1 million for the period ended 2020-03-31.