3 May 2019quarterly activities report▼ Bad
Independence Contract Drilling, Inc. reported quarterly revenue of $60.4 million and a net loss of $2.4 million for the period ended 2019-03-31.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
2 May 2019quarterly activities report▼ Bad
Independence Contract Drilling, Inc. reported quarterly revenue of $60.4 million and a net loss of $2.4 million for the period ended 2019-03-31.
16 Apr 2019substantial holder notice● Neutral
ANTHEM, INC disclosed a new substantial Independence Contract Drilling, Inc. shareholding (5.20% of votes).
1 Mar 2019quarterly activities report▼ Bad
Independence Contract Drilling, Inc. reported quarterly revenue of $124.0 million and a net loss of $23.8 million for the period ended 2018-12-31.
14 Feb 2019substantial holder notice● Neutral
LOGEN ASSET MANAGEMENT LP, LOGEN ASSET MANAGEMENT GP LLC, STEVEN K. GENDAL reported a Independence Contract Drilling, Inc. shareholding of 329,371 shares (0.44% of votes) in a periodic institutional filing.
14 Feb 2019substantial holder notice● Neutral
Capital Research Global Investors ** reported a Independence Contract Drilling, Inc. shareholding of 3,481,128 shares (4.50% of votes) in a periodic institutional filing.
13 Feb 2019substantial holder notice● Neutral
Adage Capital Partners, L.P, Adage Capital Partners GP, L.L.C, Adage Capital Advisors, L.L.C, Robert Atchinson, Phillip Gross reported a Independence Contract Drilling, Inc. shareholding of 2,478,693 shares (3.27% of votes) in a periodic institutional filing.
4 Feb 2019substantial holder notice● Neutral
Royce & Associates, LP reported a Independence Contract Drilling, Inc. shareholding of 2,296,410 shares (3.03% of votes) in a periodic institutional filing.
9 Nov 2018substantial holder notice● Neutral
Capital Research Global Investors ** reported a Independence Contract Drilling, Inc. shareholding of 4,042,333 shares (5.30% of votes) in a periodic institutional filing.
6 Nov 2018quarterly activities report▼ Bad
Independence Contract Drilling, Inc. reported quarterly revenue of $28.4 million and a net loss of $3.9 million for the period ended 2018-09-30.
6 Nov 2018business combination● Neutral
The company filed the financial statements required after the Sidewinder deal: pro forma combined figures as of and for nine months to September 30, 2018, and Sidewinder's unaudited statements. Pro forma combined nine-month revenue is $165.2 million with a net loss of $21.4 million, and long-term debt of $127.6 million, though the filing says these figures are for information only and not necessarily what actually would have happened. It repeats the fleet description (15 AC and four 1500hp SCR rigs; 11 mechanical rigs that may be sold with net proceeds to Sidewinder unitholders) and confirms ICD is the accounting acquirer. This completes the paperwork for the merger closed October 1.
6 Nov 2018quarterly activities report▼ Bad
Independence Contract Drilling, Inc. reported quarterly revenue of $28.4 million and a net loss of $3.9 million for the period ended 2018-09-30.
19 Oct 2018securities registration● Neutral
Independence Contract Drilling, Inc. filed the final prospectus for a registered offering.
19 Oct 2018securities registration● Neutral
Independence Contract Drilling, Inc. filed the final prospectus for a registered offering.
11 Oct 2018substantial holder notice● Neutral
LOGEN ASSET MANAGEMENT LP, LOGEN ASSET MANAGEMENT GP LLC, STEVEN K. GENDAL, ANTHEM, INC disclosed a new substantial Independence Contract Drilling, Inc. shareholding (5.83% of votes).
11 Oct 2018substantial holder notice● Neutral
OR Birch Grove Credit Strategies Maste, OR BGCSMF, OR Birch Grove Capital LP, OR Birch Grove Capital Management LLC, OR Birch Grove Advisors LLC, OR Jonathan I. Berger disclosed a new substantial Independence Contract Drilling, Inc. shareholding (5.60% of votes).
9 Oct 2018securities registration● Neutral
Independence Contract Drilling, Inc. registered a securities offering with the SEC using its shelf eligibility.
3 Oct 2018director interest notice● Neutral
Msd Capital L P became a Independence Contract Drilling, Inc. director and company insider (initial ownership filing).
3 Oct 2018director interest notice● Neutral
Msd Partners, L.P. became a Independence Contract Drilling, Inc. director and company insider (initial ownership filing).
3 Oct 2018director interest notice● Neutral
Independence Contract Drilling, Inc. director Thomas R Bates Jr. exercised stock options for 22,422 shares and disposed of 22,422 shares.
3 Oct 2018substantial holder notice● Neutral
MSD Partners, L.P, MSD Credit Opportunity Master Fund, L.P disclosed a new substantial Independence Contract Drilling, Inc. shareholding (25.00% of votes).
3 Oct 2018substantial holder notice● Neutral
MSD Capital, L.P, MSD Energy Investments, L.P, Michael S. Dell disclosed a new substantial Independence Contract Drilling, Inc. shareholding (6.00% of votes).
3 Oct 2018director interest notice● Neutral
Independence Contract Drilling, Inc. director Daniel F Mcnease exercised stock options for 22,422 shares and disposed of 22,422 shares.
3 Oct 2018director interest notice● Neutral
Independence Contract Drilling, Inc. director James Minmier received a stock option grant for 21,231 shares.
3 Oct 2018director interest notice● Neutral
Independence Contract Drilling, Inc. insider Tighe Noonan exercised stock options for 22,422 shares and disposed of 22,422 shares.
3 Oct 2018director interest notice● Neutral
Adam Piekarski became a Independence Contract Drilling, Inc. director and company insider (initial ownership filing).
3 Oct 2018director interest notice● Neutral
Independence Contract Drilling, Inc. President & CEO John A. Gallegos Jr. received a stock option grant for 235,765 shares.
3 Oct 2018director interest notice● Neutral
Independence Contract Drilling, Inc. director James Crandell exercised stock options for 22,422 shares and disposed of 22,422 shares.
3 Oct 2018director interest notice● Neutral
Independence Contract Drilling, Inc. director Matthew D Fitzgerald exercised stock options for 14,948 shares and disposed of 22,422 shares.
2 Oct 2018asset acquisition disposition● NeutralMajor
The Sidewinder merger closed on October 1, 2018, after shareholders approved the share issuance. ICD issued 36,752,657 new shares to Sidewinder's Series A holders (against 38,252,765 outstanding in August), so existing holders now own a smaller slice (inference from the share counts). Sidewinder became ICD Operating LLC. J. Anthony Gallegos became CEO and a director, replacing Byron Dunn, whose employment and board service ended; Tighe Noonan also left the board, and James Minmier and Adam Piekarski joined. ICD took on a new $130.0 million term loan (plus up to $15.0 million delayed-draw, due Oct 1, 2023, U.S. Bank agent) and a new $40.0 million asset-based revolver (Wells Fargo agent, due by Oct 1, 2023). The term loan proceeds repaid Sidewinder's and ICD's existing debt and deal costs, and ICD's old CIT-led credit facility was repaid and terminated.