12 Nov 2021listing compliance notice▼ BadMajor
VINE ENERGY INC. terminated the registration of a class of securities, ending its reporting obligation for them.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
3 Nov 2021director interest notice● Neutral
VINE ENERGY INC. officer Eric D Marsh acquired 507,142 shares and disposed of 198,391 in a set of related equity transactions.
3 Nov 2021director interest notice● Neutral
VINE ENERGY INC. director Charles M Sledge received 28,571 shares as part of the equity award.
3 Nov 2021director interest notice● Neutral
VINE ENERGY INC. director Paulett Eberhart received 10,714 shares as part of the equity award.
3 Nov 2021director interest notice● Neutral
VINE ENERGY INC. officer Wayne B. Stoltenberg acquired 235,714 shares and disposed of 85,772 in a set of related equity transactions.
3 Nov 2021director interest notice● Neutral
VINE ENERGY INC. officer David M Elkin acquired 271,428 shares and disposed of 100,929 in a set of related equity transactions.
3 Nov 2021director interest notice● Neutral
VINE ENERGY INC. officer Jonathan Charles Curth received 67,858 shares as part of the equity award.
3 Nov 2021director interest notice● Neutral
VINE ENERGY INC. officer Brian D Dutton acquired 25,000 shares and disposed of 6,090 in a set of related equity transactions.
2 Nov 2021listing compliance notice● NeutralMajor
VINE ENERGY INC.'s exchange filed to remove a class of its securities from listing.
1 Nov 2021business combination● NeutralMajor
The Chesapeake merger closed on Nov 1, 2021, after stockholders approved it (68,447,171 for, 7,558 against, 9,693 abstaining). Each Vine Class A share became $1.20 in cash plus 0.2486 Chesapeake shares, and Class B shares and Holdings units were converted into Class A first. Vine's Class A stock stops trading on the NYSE before the open on Nov 2, Vine plans to file a Form 15 to suspend its SEC reporting, its directors left, CEO Marsh, CFO Stoltenberg and COO Elkin resigned as officers, and the first-lien RBL and second-lien loan were repaid and terminated. This resolves the vote, closing and borrowing-base threads. The filing does not mention the shareholder lawsuits.
25 Oct 2021business combination● Neutral
Seven shareholder lawsuits have been filed over the Chesapeake merger, claiming the proxy statement left out material information, mainly about financial projections, the advisors' analyses and post-deal jobs and benefits. They seek to block the merger and win damages. Vine calls the claims meritless but is adding extra disclosures to the proxy (mostly more detail on Houlihan Lokey's valuation analyses) to end the suits, without admitting any wrong. The merger terms are unchanged, and the Nov 1 vote is still ahead.
1 Oct 2021business combination● NeutralMajor
Vine filed its definitive proxy for the Chesapeake merger, setting a November 1, 2021 virtual stockholder meeting. The terms are unchanged: $1.20 cash plus 0.2486 Chesapeake shares per Vine share, worth about $15.00 per share at the August 10 price, with Vine holders expected to own about 16% of the combined company. Blackstone funds and management, holding about 72.8% of the vote, have agreed to vote in favour, so approval is assured unless the board changes its recommendation.
15 Sept 2021debt financing● Neutral
Vine Energy Holdings and its lenders amended the March 2021 credit agreement. The amendment postpones the scheduled borrowing base review from October 1, 2021 to December 1, 2021 (or as soon as possible after) and waives certain requirements to maintain hedges during the hedging extension period. The filing does not state why.
16 Aug 2021substantial holder notice● Neutral
Vine Investment LLC, Vine Investment II LLC, Brix Investment LLC, Brix Investment II LLC, Harvest Investment LLC, Harvest Investment II LLC, Vine Oil & Gas Holdings LLC, Blackstone Capital Partners VI-Q L.P, Blackstone Energy Partners Q L.P, Blackstone Family Investment Partnership VI-ESC L.P, Blackstone Energy Family Investment Partnership ESC L.P, Blackstone Energy Family Investment Partnership SMD L.P, BEP Side-by-Side GP L.L.C, B&H Oil and Gas L.L.C, BCP VI SBS Holdings L.L.C, Blackstone Energy Partners II Q L.P, Blackstone Energy Partners II.F Q L.P, Blackstone Energy Family Investment Partnership II-ESC L.P, Blackstone Energy Family Investment Partnership II SMD L.P, BEP II SBS Holdings L.L.C, BTAS Q Holdings L.L.C, BCP VI Side-by-Side GP L.L.C, BEP II Side-by-Side GP L.L.C, Blackstone Management Associates VI L.L.C, BMA VI L.L.C, Blackstone Energy Management Associates L.L.C, Blackstone EMA L.L.C, Blackstone Energy Management Associates II L.L.C, Blackstone EMA II L.L.C, Blackstone Family GP L.L.C, Blackstone Side-by-Side Umbrella Partnership L.P, Blackstone Side-by-Side Umbrella GP L.L.C, BTAS Associates L.L.C, Blackstone Holdings III L.P, Blackstone Holdings III GP L.P, Blackstone Holdings III GP Management L.L.C, Blackstone Inc, Blackstone Group Management L.L.C, Stephen A. Schwarzman reported a VINE ENERGY INC. shareholding of 54,819,256 shares (72.80% of votes) in a periodic institutional filing.
13 Aug 2021quarterly activities report▼ Bad
VINE ENERGY INC. reported quarterly revenue of -$64.5 million and a net loss of $198.4 million for the period ended 2021-06-30.
11 Aug 2021business combination● NeutralMajor
Vine Energy agreed to be acquired by Chesapeake Energy. Each Vine share would convert into $1.20 in cash plus 0.2486 Chesapeake shares. The deal needs Vine shareholder approval, regulatory clearance and an effective registration statement, and a $45 million termination fee applies in certain cases. The deal can be terminated if not closed by February 10, 2022 (extendable to June 24, 2022 in some circumstances).
23 July 2021director interest notice● Neutral
VINE ENERGY INC. officer Eric D Marsh received a stock option grant for 507,142 shares.
23 July 2021director interest notice● Neutral
VINE ENERGY INC. officer Wayne B. Stoltenberg received a stock option grant for 235,714 shares.
23 July 2021director interest notice● Neutral
VINE ENERGY INC. officer David M Elkin received a stock option grant for 271,428 shares.
23 July 2021director interest notice● Neutral
VINE ENERGY INC. officer Jonathan Charles Curth received a stock option grant for 67,858 shares.
23 July 2021director interest notice● Neutral
VINE ENERGY INC. officer Brian D Dutton received a stock option grant for 25,000 shares.
14 July 2021director interest notice● Neutral
VINE ENERGY INC. director Charles M Sledge received a stock option grant for 28,571 shares.
14 July 2021director interest notice● Neutral
VINE ENERGY INC. director Paulett Eberhart received a stock option grant for 10,714 shares.
9 July 2021director interest notice● Neutral
John Hyung Lee became a VINE ENERGY INC. director and company insider (initial ownership filing).
17 May 2021quarterly activities report▼ Bad
VINE ENERGY INC. reported quarterly revenue of $118.1 million and a net loss of $15.9 million for the period ended 2021-03-31.
17 May 2021quarterly activities report▼ Bad
VINE ENERGY INC. reported quarterly revenue of $118.1 million and a net loss of $15.9 million for the period ended 2021-03-31.
9 Apr 2021debt financing▲ GoodMajor
Vine Energy Holdings sold $950 million of 6.750% senior unsecured notes due April 15, 2029. It used the proceeds plus cash on hand to redeem all $530 million of its 8.75% notes and $380 million of its 9.75% notes due 2023 on April 8, 2021. This continues the post-IPO debt restructuring: the two 2023 note issues are replaced by notes with a lower stated rate and a later maturity.
2 Apr 2021securities registration● Neutral
VINE ENERGY INC. filed the final prospectus for a registered offering.
2 Apr 2021substantial holder notice● Neutral
Vine Investment LLC, Vine Investment II LLC, Brix Investment LLC, Brix Investment II LLC, Harvest Investment LLC, Harvest Investment II LLC, Vine Oil & Gas Holdings LLC, Blackstone Capital Partners VI-Q L.P, Blackstone Energy Partners Q L.P, Blackstone Family Investment Partnership VI-ESC L.P, Blackstone Energy Family Investment Partnership ESC L.P, Blackstone Energy Family Investment Partnership SMD L.P, BEP Side-by-Side GP L.L.C, B&H Oil and Gas L.L.C, BCP VI SBS Holdings L.L.C, Blackstone Energy Partners II Q L.P, Blackstone Energy Partners II.F Q L.P, Blackstone Energy Family Investment Partnership II-ESC L.P, Blackstone Energy Family Investment Partnership II SMD L.P, BEP II SBS Holdings L.L.C, BTAS Q Holdings L.L.C, BCP VI Side-by-Side GP L.L.C, BEP II Side-by-Side GP L.L.C, Blackstone Management Associates VI L.L.C, BMA VI L.L.C, Blackstone Energy Management Associates L.L.C, Blackstone EMA L.L.C, Blackstone Energy Management Associates II L.L.C, Blackstone EMA II L.L.C, Blackstone Family GP L.L.C, Blackstone Side-by-Side Umbrella Partnership L.P, Blackstone Side-by-Side Umbrella GP L.L.C, BTAS Associates L.L.C, Blackstone Holdings III L.P, Blackstone Holdings III GP L.P, Blackstone Holdings III GP Management L.L.C, The Blackstone Group Inc, Blackstone Group Management L.L.C, Stephen A. Schwarzman disclosed a new substantial VINE ENERGY INC. shareholding (73.10% of votes).
24 Mar 2021director interest notice● Neutral
VINE ENERGY INC. 10%+ owner Vine Investment LLC bought 4,285,000 shares on the open market.