Past year: ▼ 75%(1.00c – 7.00c USD)
Each one in plain English, with the numbers worked through for a shareholder.
14 Feb 2013substantial holder notice● Neutral
Blackstone / GSO Capital Solutions Fund LP, Blackstone / GSO Capital Solutions Associates LLC, GSO Holdings I LLC, Blackstone Holdings I L.P, Blackstone Holdings I/II GP Inc, The Blackstone Group L.P, Blackstone Group Management L.L.C, Stephen A. Schwarzman, Bennett J. Goodman, J. Albert Smith III, Douglas I. Ostrover reported a SARATOGA RESOURCES INC /TX shareholding of 4,800,000 shares (15.50% of votes) in a periodic institutional filing.
14 Feb 2013substantial holder notice● Neutral
Taylor Asset Management, Inc FEIN #, Stephen S Taylor reported a SARATOGA RESOURCES INC /TX shareholding of 1,229,436 shares (3.90% of votes) in a periodic institutional filing.
12 Feb 2013securities registration● Neutral
SARATOGA RESOURCES INC /TX filed the final prospectus for a registered offering.
12 Feb 2013director interest notice● Neutral
SARATOGA RESOURCES INC /TX director John William Rhea IV sold 5,265 shares.
11 Jan 2013business combination● Neutral
The company filed a registration statement (Form S-4) offering to swap the $25 million of unregistered 12.5% Senior Secured Notes due 2016 issued December 4, 2012 for identical registered notes. The company gets no proceeds and the terms and debt are unchanged; this fulfils the registration promise made when those notes were sold. It is a preliminary filing and the offer's expiry date is blank.
5 Dec 2012debt financing● NeutralMajor
The $25.0 million add-on sale of 12.5% Senior Secured Notes due 2016 closed on December 4, 2012, under a First Supplemental Indenture, with net proceeds of about $23.3 million (a bit below the $23.445 million expected). The company and its four subsidiary guarantors must file to exchange these unregistered notes for registered ones, aiming for effectiveness within 120 days, or pay additional interest. This completes the November 29 agreement and adds to the debt carried from the 2011 issue.
30 Nov 2012material agreement● NeutralMajor
On November 29, 2012 the company agreed to sell $25.0 million more of its 12.5% Senior Notes due 2016 to Imperial Capital, priced at 98.58% of par plus interest from July 1, 2012, for about $23.445 million net. Proceeds are for general corporate purposes including capital spending. These are add-on notes under the July 2011 indenture, which previously covered $127.5 million, so total debt under it rises.
13 Nov 2012quarterly activities report▼ Bad
SARATOGA RESOURCES INC /TX reported quarterly revenue of $16.7 million and a net loss of $475 thousand for the period ended 2012-09-30.
9 Aug 2012quarterly activities report● Neutral
SARATOGA RESOURCES INC /TX reported quarterly revenue of $24.2 million and net income of $860 thousand for the period ended 2012-06-30.
9 July 2012securities registration● Neutral
SARATOGA RESOURCES INC /TX filed the final prospectus for a registered offering.
21 June 2012securities registration● Neutral
SARATOGA RESOURCES INC /TX registered a securities offering with the SEC using its shelf eligibility.
21 June 2012securities registration● Neutral
SARATOGA RESOURCES INC /TX registered a securities offering with the SEC using its shelf eligibility.
19 June 2012director interest notice● Neutral
SARATOGA RESOURCES INC /TX director Rex H White Jr. received a stock option grant for 35,000 shares.
19 June 2012director interest notice● Neutral
SARATOGA RESOURCES INC /TX director John William Rhea IV received a stock option grant for 35,000 shares.
19 June 2012director interest notice● Neutral
SARATOGA RESOURCES INC /TX director Kevin Smith received a stock option grant for 35,000 shares.
4 June 2012director interest notice● Neutral
SARATOGA RESOURCES INC /TX director Kevin Smith sold 10,000 shares.
30 May 2012director interest notice● Neutral
SARATOGA RESOURCES INC /TX director John William Rhea IV exercised stock options for 35,000 shares and disposed of 49,826 shares.
29 May 2012director interest notice● Neutral
SARATOGA RESOURCES INC /TX 10%+ owner Blackstone Group L.P. bought 800,000 shares on the open market at $6.25.
29 May 2012director interest notice● Neutral
SARATOGA RESOURCES INC /TX 10%+ owner Blackstone / Gso Capital Solutions Fund LP bought 800,000 shares on the open market at $6.25.
25 May 2012securities registration● Neutral
SARATOGA RESOURCES INC /TX filed notice of an exempt private placement.
25 May 2012capital raising announcement▲ GoodMajor
The private placement closed on May 24, 2012 with 3,089,360 shares issued (more than the 2,969,360 first announced), raising $19,308,500 gross and about $18.5 million net. The company must file a resale registration statement within 30 days of closing, with 1% of the purchase price per 30 days in damages if it misses registration deadlines. Separately, on May 22 holders exercised 213,996 of the $5.00 warrants (from the 2011 placements) for $1,069,980, and received new 3-year warrants over 106,997 shares at $8.00.
What it means for a shareholder
106,997 new shares at $8.00 to raise about $1.1m. That's 0.391% dilution: every existing holder's slice gets 0.391% smaller. If you held $1,000 of shares (125 at the issue price), your slice goes from 0.000458% to 0.000457% of the company. To keep it you'd need 0 more shares - about $0 at the issue price.
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16 May 2012material agreement● NeutralMajor
On May 14, 2012 the company agreed to sell 2,969,360 new shares at $6.25 each in a private placement to institutional and accredited investors, expecting about $17.7 million net after commissions and expenses. The money is to fund faster drilling and development and working capital, with closing expected around May 17, 2012; this adds new shares (dilution) and the buyers will get resale registration rights. C. K. Cooper & Company and Ladenburg Thalmann were co-placement agents.
15 May 2012quarterly activities report▼ Bad
SARATOGA RESOURCES INC /TX reported quarterly revenue of $20.2 million and a net loss of $1.2 million for the period ended 2012-03-31.
15 May 2012quarterly activities report▼ Bad
SARATOGA RESOURCES INC /TX reported quarterly revenue of $20.2 million and a net loss of $1.2 million for the period ended 2012-03-31.
14 Feb 2012substantial holder notice● Neutral
Taylor Asset Management, Inc FEIN #, Stephen S Taylor disclosed a new substantial SARATOGA RESOURCES INC /TX shareholding (5.30% of votes).
23 Dec 2011director interest notice● Neutral
Randal B Mcdonald Jr. became a SARATOGA RESOURCES INC /TX Controller and company insider (initial ownership filing).
21 Nov 2011director interest notice● Neutral
SARATOGA RESOURCES INC /TX Chief Financial Officer Michael O Aldridge bought 10,000 shares on the open market.
15 Nov 2011director interest notice● Neutral
SARATOGA RESOURCES INC /TX Chief Financial Officer Michael O Aldridge bought 10,000 shares on the open market.
15 Nov 2011director interest notice● Neutral
SARATOGA RESOURCES INC /TX director Kevin Smith sold 6,000 shares.
10 Nov 2011quarterly activities report● Neutral
SARATOGA RESOURCES INC /TX reported quarterly revenue of $19.8 million and net income of $6.2 million for the period ended 2011-09-30.
