In case anyone is still following this (or hopefully short). a
little news blurb from Fridya:
"
Peabody Energy Corp.
dived 9.58% in over-the-counter trading to end at $7.46, a day
after
filing
a reorganization plan and disclosure statement with the U.S.
Bankruptcy Court for the Eastern District of Missouri, as the
company gears up to emerge from Chapter 11 bankruptcy.
Peabody's proposed plan recapitalizes the company through a
backstopped rights offering of $750 million, a
private placement of
mandatorily convertible preferred stock of $750 million and the
issuance of new common stock to satisfy certain creditor
claims. The company hopes to exit bankruptcy with sufficient
liquidity for its near- and long-term needs. The plan insists
Peabody has an opportunity to "
not only survive but to thrive for the long-term benefit
of its many stakeholders.""
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In case anyone is still
huge move in Peabody coal
Posted by pinguin on 27th of Dec 2016 at 08:36 am
In case anyone is still following this (or hopefully short). a little news blurb from Fridya:
" Peabody Energy Corp. dived 9.58% in over-the-counter trading to end at $7.46, a day after filing a reorganization plan and disclosure statement with the U.S. Bankruptcy Court for the Eastern District of Missouri, as the company gears up to emerge from Chapter 11 bankruptcy.
Peabody's proposed plan recapitalizes the company through a backstopped rights offering of $750 million, a private placement of mandatorily convertible preferred stock of $750 million and the issuance of new common stock to satisfy certain creditor claims. The company hopes to exit bankruptcy with sufficient liquidity for its near- and long-term needs. The plan insists Peabody has an opportunity to " not only survive but to thrive for the long-term benefit of its many stakeholders.""