20 Feb 2018director interest notice● Neutral
EQT RE, LLC 10%+ owner Eqt Corp converted derivative holdings into 28,753,623 shares.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
14 Feb 2018substantial holder notice● Neutral
Lone Pine Capital LLC, Stephen F. Mandel, Jr reported no remaining EQT RE, LLC shareholding in its periodic institutional filing.
14 Feb 2018substantial holder notice● Neutral
Viking Global Investors LP, Viking Global Performance LLC, Viking Global Equities LP, Viking Global Equities II LP, VGE III Portfolio Ltd., Viking Long Fund GP LLC, Viking Long Fund Master Ltd., Viking Global Opportunities GP LLC, Viking Global Opportunities Portfolio GP LLC, Viking Global Opportunities Liquid Portfolio Sub-Master LP, O. Andreas Halvorsen, David C. Ott, Rose S. Shabet reported no remaining EQT RE, LLC shareholding in its periodic institutional filing.
24 Nov 2017listing compliance notice▼ BadMajor
EQT RE, LLC terminated the registration of a class of securities, ending its reporting obligation for them.
15 Nov 2017business combination● NeutralMajor
The EQT merger closed on Nov 13, 2017: Rice became a wholly owned EQT subsidiary and was then merged into EQT RE, LLC, which is now its successor. Each Rice share became 0.37 EQT share plus $5.30 cash, in total about 91.90 million EQT shares and about $1.3 billion in cash. The Wells Fargo credit agreements were repaid and ended, and the 6.25% 2022 and 7.25% 2023 notes were redeemed and cancelled, resolving those open debt threads. All Rice directors and listed officers, including Daniel Rice IV and Gray Lisenby, left their roles at closing. The text shown does not mention Rice IV or Vagt joining EQT's board. Rice stock was suspended from NYSE trading on Nov 13, with a Form 25 delisting requested and a Form 15 to end reporting planned.
13 Nov 2017director interest notice● Neutral
EQT RE, LLC officer Robert R. Wingo acquired 324,296 shares and disposed of 384,244 in a set of related equity transactions.
13 Nov 2017listing compliance notice▼ BadMajor
EQT RE, LLC suspended its duty to file periodic reports with the SEC.
13 Nov 2017director interest notice● Neutral
EQT RE, LLC 10%+ owner Rice Energy Holdings LLC disposed of 1,888,619 shares via option/appreciation-right settlement.
13 Nov 2017director interest notice● Neutral
EQT RE, LLC officer James Wilmot Rogers acquired 317,004 shares and disposed of 573,911 in a set of related equity transactions.
13 Nov 2017director interest notice● Neutral
EQT RE, LLC officer William E. Jordan acquired 336,048 shares and disposed of 446,549 in a set of related equity transactions.
13 Nov 2017securities registration● Neutral
EQT RE, LLC amended its automatic shelf registration statement.
13 Nov 2017listing compliance notice● NeutralMajor
EQT RE, LLC's exchange filed to remove a class of its securities from listing.
13 Nov 2017director interest notice● Neutral
EQT RE, LLC officer Daniel J. Rice IV acquired 771,770 shares and disposed of 1,171,690 in a set of related equity transactions.
13 Nov 2017director interest notice● Neutral
EQT RE, LLC director Robert F Vagt disposed of 61,906 shares via option/appreciation-right settlement.
13 Nov 2017director interest notice● Neutral
EQT RE, LLC officer Toby Z. Rice acquired 777,142 shares and disposed of 1,261,093 in a set of related equity transactions.
13 Nov 2017director interest notice● Neutral
EQT RE, LLC officer Derek A. Rice acquired 771,770 shares and disposed of 1,171,690 in a set of related equity transactions.
13 Nov 2017director interest notice● Neutral
EQT RE, LLC 10%+ owner Andrew L. Share disposed of 31,519,733 shares via option/appreciation-right settlement.
13 Nov 2017director interest notice● Neutral
EQT RE, LLC director James W Christmas disposed of 137,199 shares via option/appreciation-right settlement.
13 Nov 2017director interest notice● Neutral
EQT RE, LLC director John Mccartney disposed of 28,180 shares via option/appreciation-right settlement.
13 Nov 2017director interest notice● Neutral
EQT RE, LLC director Kathryn Jean Jackson disposed of 9,356 shares via option/appreciation-right settlement.
13 Nov 2017director interest notice● Neutral
EQT RE, LLC officer Grayson T. Lisenby acquired 560,258 shares and disposed of 1,030,707 in a set of related equity transactions.
13 Nov 2017securities registration● Neutral
EQT RE, LLC amended its automatic shelf registration statement.
13 Nov 2017director interest notice● Neutral
EQT RE, LLC 10%+ owner Rice Energy 2016 Irrevocable Trust disposed of 31,519,733 shares via option/appreciation-right settlement.
13 Nov 2017director interest notice● Neutral
EQT RE, LLC director Daniel Rice disposed of 2,725,730 shares via option/appreciation-right settlement.
9 Nov 2017substantial holder notice● Neutral
Rice Energy, Andrew L. Share, Daniel J. Rice III, Daniel J. Rice IV, Derek A. Rice, Toby Z. Rice reported a EQT RE, LLC shareholding of 35,150,139 shares (15.40% of votes) in a periodic institutional filing.
2 Nov 2017quarterly activities report● Neutral
EQT RE, LLC reported a quarterly net income of $320 thousand for the period ended 2017-09-30.
2 Nov 2017quarterly activities report● Neutral
EQT RE, LLC reported a quarterly net income of $320 thousand for the period ended 2017-09-30.
31 Oct 2017business combination● Neutral
Rice and EQT disclosed four shareholder lawsuits filed in Aug 2017 (Gordon, Assad, Boerger, Wilson) claiming the merger proxy statement was misleading, with some seeking to block the merger or rescind it. Both companies call the claims without merit and say they cannot estimate any loss. They added extra background to the proxy statement to moot the disclosure claims, including that the named Rice holders' 36,832,830 shares (about 15.1% of Rice votes) are backing the deal and would become about 13.6 million EQT shares, about 5% of EQT after closing. This continues the merger thread ahead of the Nov 9, 2017 votes.
26 Oct 2017business combination● Neutral
On Oct 26, 2017 Rice and EQT amended the June 19, 2017 merger agreement so EQT's board can grow from twelve to fifteen directors, not thirteen as originally agreed. The change follows EQT's Oct 23 announcement that it is searching for two more independent directors with midstream experience, who would join after closing. The deal terms for Rice holders are not changed in the text shown, and the Nov 9, 2017 votes were still ahead.
12 Oct 2017business combination● NeutralMajor
On Oct 12, 2017 Rice filed the definitive joint proxy statement with EQT for the merger first announced June 19, 2017. Both companies' shareholders vote at special meetings on Nov 9, 2017; Rice holders would get 0.37 EQT share plus $5.30 cash per share, worth about $28.65 at EQT's Oct 11 close of $63.10 (versus about $27.04 at announcement). The filing estimates former Rice holders would own about 35% of EQT and existing EQT holders about 65%. This moves the merger thread forward; the votes have not yet happened.