2 Mar 2017material agreement● NeutralMajor
Lined up $255.75 million of new equity financing for its reorganization plan, backstopped by senior noteholders through a rights offering - the money needed to fund its exit from bankruptcy.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
3 Feb 2017listing compliance notice▼ Bad
NASDAQ moved to delist its common and preferred units as an automatic consequence of the bankruptcy filing; the company didn't plan to appeal and expected to trade on the OTC Pink market instead.
2 Feb 2017bankruptcy or receivership▼ BadMajor
Filed for Chapter 11 bankruptcy with its subsidiaries, having pre-negotiated a restructuring support agreement with noteholders to convert senior and second-lien notes into equity in a reorganized company - the acquisition-fueled growth of the previous decade had run into oil prices low enough to break it.
12 Jan 2017director interest notice● Neutral
Grizzly Energy, LLC President and CEO Scott W Smith disposed of 25,130 shares via option/appreciation-right settlement.
12 Jan 2017director interest notice● Neutral
Grizzly Energy, LLC Executive VP and CFO Richard A Robert disposed of 13,919 shares via option/appreciation-right settlement.
12 Jan 2017director interest notice● Neutral
Grizzly Energy, LLC Executive VP of Operations Britt Pence disposed of 11,933 shares via option/appreciation-right settlement.
5 Jan 2017director interest notice● Neutral
Grizzly Energy, LLC director Bruce W. Mccullough exercised stock options for 41,946 shares and disposed of 83,892 shares.
5 Jan 2017director interest notice● Neutral
Grizzly Energy, LLC director Loren Singletary received a stock option grant for 160,256 shares.
5 Jan 2017director interest notice● Neutral
Grizzly Energy, LLC President and CEO Scott W Smith received a stock option grant for 5,335,821 shares.
5 Jan 2017director interest notice● Neutral
Grizzly Energy, LLC director Bruce W. Mccullough received a stock option grant for 160,256 shares.
5 Jan 2017director interest notice● Neutral
Grizzly Energy, LLC President and CEO Scott W Smith exercised stock options for 369,128 shares and disposed of 738,256 shares.
5 Jan 2017director interest notice● Neutral
Grizzly Energy, LLC Executive VP of Operations Britt Pence received a stock option grant for 2,350,746 shares.
5 Jan 2017director interest notice● Neutral
Grizzly Energy, LLC Executive VP of Operations Britt Pence exercised stock options for 172,260 shares and disposed of 344,520 shares.
5 Jan 2017director interest notice● Neutral
Grizzly Energy, LLC director W Richard Anderson received a stock option grant for 160,256 shares.
5 Jan 2017director interest notice● Neutral
Grizzly Energy, LLC director W Richard Anderson exercised stock options for 41,946 shares and disposed of 83,892 shares.
5 Jan 2017director interest notice● Neutral
Grizzly Energy, LLC director Loren Singletary exercised stock options for 41,946 shares and disposed of 83,892 shares.
5 Jan 2017director interest notice● Neutral
Grizzly Energy, LLC Executive VP and CFO Richard A Robert exercised stock options for 210,291 shares and disposed of 420,582 shares.
5 Jan 2017director interest notice● Neutral
Grizzly Energy, LLC Executive VP and CFO Richard A Robert received a stock option grant for 2,925,373 shares.
14 Nov 2016listing compliance notice▼ Bad
Received a NASDAQ deficiency notice after its units traded below $1.00 for 30 straight days, with until May 2017 to regain compliance - the unit price collapse was now a listing problem too.
9 Nov 2016quarterly activities report▼ Bad
Grizzly Energy, LLC reported quarterly revenue of $126.3 million and a net loss of $245.4 million for the period ended 2016-09-30.
8 Nov 2016quarterly activities report▼ Bad
Grizzly Energy, LLC reported quarterly revenue of $126.3 million and a net loss of $245.4 million for the period ended 2016-09-30.
26 Oct 2016material agreement▼ BadMajor
Got a further waiver after also skipping interest on its 2019 notes, but the waiver would void itself if the original 2020 notes payment weren't made by October 31 - and lenders had already signaled another borrowing-base cut, to $1.1 billion, was coming.
25 Oct 2016agm notice● Neutral
Grizzly Energy, LLC 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).
3 Oct 2016material agreement▼ BadMajor
Elected not to make a roughly $15 million interest payment on its 2020 senior notes, instead using the 30-day grace period, while bank lenders agreed the missed payment wouldn't itself trigger a default under the credit facility - the balance sheet was now visibly straining.
14 Sept 2016securities registration● Neutral
Grizzly Energy, LLC amended a filing by which it registered a securities offering with the SEC using its shelf eligibility.
8 Sept 2016agm notice● Neutral
Grizzly Energy, LLC 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).
29 July 2016quarterly activities report▼ Bad
Grizzly Energy, LLC reported quarterly revenue of $24.9 million and a net loss of $260.8 million for the period ended 2016-06-30.
27 July 2016quarterly activities report▼ Bad
Grizzly Energy, LLC reported quarterly revenue of $24.9 million and a net loss of $260.8 million for the period ended 2016-06-30.
27 May 2016material agreement▼ BadMajor
Had its borrowing base cut again, to $1.325 billion from $1.8 billion, and agreed to a new default trigger: falling below $50 million of liquidity after making bond interest payments would itself become an event of default - a sign lenders were bracing for a cash crunch.
20 May 2016substantial holder notice● Neutral
Montierra Minerals & Production, L.P, Montierra Management LLC, Natural Gas Partners VII, L.P, Natural Gas Partners VIII, L.P, NGP Income Management L.L.C, Eagle Rock Holdings NGP, ERH NGP, NGP Income Co-Investment Opportunities Fund II, L.P, NGP Energy Capital Management, L.L.C reported no remaining Grizzly Energy, LLC shareholding in its periodic institutional filing.