8 Dec 2009securities registration● Neutral
GEOKINETICS INC filed the final prospectus for a registered offering.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
4 Dec 2009material agreement● NeutralMajor
On December 3, 2009 Geokinetics agreed to buy the onshore seismic data acquisition and multi-client data library business of Petroleum Geo-Services (PGS) for about $210 million: $183.9 million in cash plus roughly 2.15 million shares valued at $12.11 each ($26.1 million). Closing is expected in the first quarter of 2010, with a February 15, 2010 termination date. Geokinetics also received a $275 million bridge financing commitment from RBC Capital Markets, conditional on closing, and says it expects to repay most or all of its existing debt. To support the financing it amended the Series B preferred: the B-1 coupon rises from 8% to 9¾% with conversion price cut from $25 to $20, and the B-2 is to be exchanged for non-convertible redeemable preferred with a coupon of about 12%. B-2 holders also get 750,000 common shares and Avista Capital Holdings and Levant America get a 2% cash fee. After closing PGS becomes the second-largest shareholder after Avista affiliates.
26 Aug 2009director interest notice● Neutral
GEOKINETICS INC director Christopher D Strong received 4,000 shares as part of the equity award.
26 Aug 2009director interest notice● Neutral
GEOKINETICS INC director Cabes Robert L Jr. received 4,000 shares as part of the equity award.
26 Aug 2009director interest notice● Neutral
GEOKINETICS INC director Steven A Webster received 4,000 shares as part of the equity award.
26 Aug 2009director interest notice● Neutral
GEOKINETICS INC director William R Ziegler received 4,000 shares as part of the equity award.
26 Aug 2009director interest notice● Neutral
White Jim became a GEOKINETICS INC Executive Vice President and company insider (initial ownership filing).
26 Aug 2009director interest notice● Neutral
GEOKINETICS INC VP and Chief Accounting Office Hess Mark A received 4,500 shares as part of the equity award.
26 Aug 2009director interest notice● Neutral
GEOKINETICS INC director Christopher D Strong received 4,000 shares as part of the equity award.
26 Aug 2009director interest notice● Neutral
GEOKINETICS INC director Christopher M Harte received 4,000 shares as part of the equity award.
26 Aug 2009director interest notice● Neutral
GEOKINETICS INC CFO Mccurdy Scott A received 24,000 shares as part of the equity award.
26 Aug 2009director interest notice● Neutral
GEOKINETICS INC Executive VP Parker Lee received 24,000 shares as part of the equity award.
26 Aug 2009director interest notice● Neutral
GEOKINETICS INC President Miles Richard F received 42,000 shares as part of the equity award.
26 Aug 2009director interest notice● Neutral
GEOKINETICS INC director Gary M Pittman received 4,000 shares as part of the equity award.
26 Aug 2009securities registration● Neutral
GEOKINETICS INC filed the final prospectus for a registered offering.
26 Aug 2009director interest notice● Neutral
GEOKINETICS INC director Christopher M Harte received 4,000 shares as part of the equity award.
18 Aug 2009securities registration● Neutral
GEOKINETICS INC amended a filing by which it registered a securities offering with the SEC using its shelf eligibility.
8 July 2009director interest notice● Neutral
GEOKINETICS INC 10%+ owner Dane Andreeff sold 25,000 shares at $12.75.
2 July 2009director interest notice● Neutral
GEOKINETICS INC 10%+ owner Dane Andreeff sold 30,000 shares at $13.60.
29 June 2009director interest notice● Neutral
GEOKINETICS INC 10%+ owner Dane Andreeff sold 45,000 shares at $12.04.
26 June 2009securities registration● Neutral
GEOKINETICS INC registered a securities offering with the SEC using its shelf eligibility.
13 Apr 2009business combination● Neutral
Geokinetics gave preliminary notice of a one-time option exchange program, authorized by the board on April 8, 2009, letting eligible employees (including executive officers) swap certain options for a lesser number of new lower-priced options. It needs stockholder approval at the annual meeting set for May 27, 2009, and the company may still decide not to proceed. The attached proxy also covers electing seven directors and ratifying UHY LLP as auditor, and says 10,580,501 common shares plus 399,459 Series B preferred shares (convertible into 3,994,590 common shares) were outstanding on the April 8, 2009 record date.
17 Mar 2009director interest notice● Neutral
GEOKINETICS INC President Miles Richard F bought 10,000 shares on the open market at $3.30.
17 Mar 2009director interest notice● Neutral
GEOKINETICS INC director William R Ziegler bought 18,988 shares on the open market.
13 Mar 2009director interest notice● Neutral
GEOKINETICS INC director William R Ziegler bought 66,900 shares on the open market.
12 Mar 2009director interest notice● Neutral
GEOKINETICS INC director Steven A Webster bought 124,800 shares on the open market.
27 Feb 2009listing compliance notice● Neutral
This amendment corrects two inaccuracies in a February 18, 2009 filing. It restates that on February 23, 2009 the company filed a Second Amended Certificate of Designation placing restrictions on the conversion and voting rights of the Series B-2 preferred stock. The filing says the restrictions were adopted to conform with American Stock Exchange listing provisions. It gives no figures and no further detail on the restrictions or any listing problem.
13 Feb 2009substantial holder notice● Neutral
Signia Capital Management, LLC disclosed a new substantial GEOKINETICS INC shareholding (5.90% of votes).
13 Feb 2009substantial holder notice● Neutral
Andreeff Equity Advisors, L.L.C, Dane Andreeff, Maple Leaf Partners, L.P, Maple Leaf Offshore, Ltd, Maple Leaf Capital I, L.L.C reported a GEOKINETICS INC shareholding of 1,777,114 shares (16.98% of votes) in a periodic institutional filing.
13 Feb 2009substantial holder notice● Neutral
Bay Harbour Management, L.C reported a GEOKINETICS INC shareholding of 585,690 shares (5.60% of votes) in a periodic institutional filing.