7 June 2011capital raising announcement● Neutral
HKN agreed to buy out Quadrant Management's remaining BriteWater units, making the oilfield-emulsion technology company wholly owned -- completing a buildup that started with a 19.5% stake in 2009.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
16 Sept 2010capital raising announcement● Neutral
Holders exercised a put option from the 2009 deal, and HKN issued more shares to raise its stake in the renamed BriteWater International to 42.38% -- continuing the buildup of its non-oil technology investment.
30 June 2009capital raising announcement● NeutralMajor
HKN issued 1 million restricted shares for a 19.5% stake in UniPureEnergy, a waste-oil purification technology startup, buying from sellers that included Quadrant Management -- an affiliate of HKN's own chairman Alan Quasha -- a related-party move away from oil and gas.
12 Oct 2004capital raising announcement▼ Bad
Harken restructured its Series L preferred stock to induce holders to convert into common shares, alongside a related Series M preferred sale -- a dilutive move to work down its preferred-stock overhang.