Peabody Energy Corporation (BTU)

[LouisDesyjr]

Plan about to be confirmed, common dead

Judge Announces Intention To Confirm Peabody Energy Plan Of Reorganization, Paving Way For Emergence

Peabody's plan of reorganization will become effective upon emergence, at which time the company's existing equity under the ticker symbol BTUUQ will be extinguished with no value.

It looks like there is still a little time to trade the common. Once the order is entered confirming the plan, an appeal timeline will run, about ten days. Once that time runs, the confirmation will be entered, the stock halted, and the shares extinguished.

As a side note, it has been a VERY strange trade. Except for the put options that I sold on the day of filing, when the stock briefly crashed to $0.50 or so, the stock traded up and stayed that way about that price most of the Chap 11 process.

Someone buying call options just prior to the filing could have made a profit since the stock traded up for a while.

Louis J. Desy Jr.