26 Apr 2016securities registration● Neutral
LinnCo, LLC filed the final prospectus for a registered offering.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
26 Apr 2016business combination● NeutralMajor
The exchange offer expired April 25, 2016 with about 103,961,939 Linn units (about 29% of outstanding units) validly tendered, up from about 55.5 million reported on April 15. All were accepted and LinnCo will issue new shares for them, so LinnCo will hold more Linn units. A subsequent offering period for remaining unitholders runs to May 23, 2016 unless extended, on the same one-for-one ratio. The press release says that future debt deals, including the closing of the April 4, 2016 settlement with certain second lien noteholders, may still give rise to cancellation of debt income.
26 Apr 2016listing compliance notice▼ BadMajor
NASDAQ told LinnCo on April 22, 2016 that its shares had closed below the $1.00 minimum bid price for 30 consecutive business days. Trading continues for now, and LinnCo has until October 19, 2016 to get back above $1.00 for 10 consecutive business days to regain compliance.
18 Apr 2016business combination● Neutral
LinnCo filed Amendment No. 2 to its exchange offer registration, offering one LinnCo share per Linn Energy unit with the offer now expiring at the end of April 25, 2016 (the extension already reported). The visible text repeats the warning that Linn and/or LinnCo could seek Chapter 11 and that shares and units could be severely diluted or eliminated; the visible text does not show what else changed.
18 Apr 2016business combination● Neutral
LinnCo extended its exchange offer for Linn Energy units to the end of April 25, 2016, with other terms unchanged. As of 5:00 p.m. April 15, 2016, about 55,490,588 Linn units had been validly tendered and not withdrawn, compared with the 224,207,286 maximum registered. If completed, LinnCo would take on more Linn units, and the earlier filings warn the shares could be diluted or eliminated if Linn or LinnCo sought Chapter 11.
6 Apr 2016business combination● Neutral
LinnCo filed Amendment No. 1 to its tender offer statement for the Linn Energy unit exchange, which mainly restates and cross-references the information in the amended prospectus. It adds no new figures or terms of its own beyond updating exhibit references.
6 Apr 2016business combination▼ Bad
LinnCo filed Amendment No. 1 to its exchange offer registration, keeping the terms of one LinnCo share per Linn Energy unit and the April 18, 2016 expiry. The visible text repeats the earlier warning that Linn and/or LinnCo could seek Chapter 11 and that shares and units could be severely diluted or eliminated. The visible text does not identify which terms were changed.
22 Mar 2016business combination▼ BadMajor
LinnCo filed a registration to offer one LinnCo share for each Linn Energy unit tendered, up to a maximum of 224,207,286 units, with the offer set to expire April 18, 2016 unless extended. The stated purpose is to let Linn unitholders hold their stake through a company taxed as a corporation, so that taxable income from any future Linn debt restructuring (cancellation of debt income) would not be passed to them. The filing warns that Linn and/or LinnCo could seek Chapter 11 protection and that LinnCo shares and Linn units could be severely diluted or eliminated. This is a new thread and is a significant shift from LinnCo's earlier role of simply holding Linn units.
15 Mar 2016listing compliance notice▼ Bad
LinnCo, LLC withdrew a registration statement, abandoning the offering it covered.
1 Mar 2016late filing notice▼ Bad
LinnCo, LLC notified the SEC that its annual report would be filed late.
6 Nov 2015quarterly activities report▼ Bad
LinnCo, LLC reported a quarterly net loss of $668.0 million for the period ended 2015-09-30.
3 Aug 2015quarterly activities report▼ Bad
LinnCo, LLC reported a quarterly net loss of $109.8 million for the period ended 2015-06-30.
30 Apr 2015quarterly activities report▼ Bad
LinnCo, LLC reported a quarterly net loss of $33.0 million for the period ended 2015-03-31.
23 Apr 2015agm notice● Neutral
LinnCo, 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).
12 Mar 2015agm notice● Neutral
LinnCo, LLC announced its upcoming annual shareholder meeting, covering the routine agenda (director elections, auditor ratification, executive-pay advisory vote).
10 Mar 2015agm notice● Neutral
LinnCo, LLC announced its upcoming annual shareholder meeting, covering the routine agenda (director elections, auditor ratification, executive-pay advisory vote).
23 Feb 2015material agreement● Neutral
LinnCo signed an agreement with five banks (Citigroup, Credit Suisse, J.P. Morgan, Merrill Lynch, UBS) letting it sell up to $500 million of its shares on the market over time. It says it would use any proceeds to buy the same number of new Linn Energy units from Linn, which would use the money for general purposes such as capital spending, acquisitions and repaying debt. This follows the shelf registration and prospectus supplement filed the same day. No sales are reported, and the filing says sales are only 'if any'.
20 Feb 2015securities registration● Neutral
LinnCo, LLC filed a prospectus supplement for an offering off its existing shelf.
20 Feb 2015securities registration● Neutral
LinnCo, LLC filed an automatic shelf registration, effective immediately as a well-known seasoned issuer.
5 Nov 2014quarterly activities report● Neutral
LinnCo, LLC reported a quarterly net income of $117.6 million for the period ended 2014-09-30.
8 Aug 2014quarterly activities report▼ Bad
LinnCo, LLC reported a quarterly net loss of $43.1 million for the period ended 2014-06-30.
2 May 2014quarterly activities report▼ Bad
LinnCo, LLC reported a quarterly net loss of $19.5 million for the period ended 2014-03-31.
23 Apr 2014agm notice● Neutral
LinnCo, 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).
12 Mar 2014agm notice● Neutral
LinnCo, LLC announced its upcoming annual shareholder meeting, covering the routine agenda (director elections, auditor ratification, executive-pay advisory vote).
13 Feb 2014substantial holder notice● Neutral
Fir Tree Inc reported no remaining LinnCo, LLC shareholding in its periodic institutional filing.
13 Feb 2014substantial holder notice● Neutral
Robert S. Pitts, Jr, Steadfast Capital Management LP, Steadfast Advisors LP, Steadfast Capital, L.P, American Steadfast, L.P, Steadfast International Master Fund Ltd reported a LinnCo, LLC shareholding of 5.00% of votes in a periodic institutional filing.
3 Feb 2014director interest notice● Neutral
Candice J Wells became a LinnCo, LLC VP - Gen Counsel and Corp Sec and company insider (initial ownership filing).
3 Feb 2014director interest notice● Neutral
Thomas E Emmons became a LinnCo, LLC SVP - Corporate Services and company insider (initial ownership filing).
3 Feb 2014director interest notice● Neutral
Jamin Mcneil became a LinnCo, LLC SVP - Houston Division Ops and company insider (initial ownership filing).
26 Dec 2013director interest notice● Neutral
Stephen J Hadden became a LinnCo, LLC director and company insider (initial ownership filing).