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.5 per 100 most likely
Hey Guys, hope all is well looking forward to seeing you all a little more this fall!
Was able to get my short just in time. Glad it's halted :)
Yes but common stock will be distributed at a ratio of approximately 0.01076 shares of New Eagle Common Stock for each existing share of common stock of the Company. Hip hip hoeraaa too soon.
Heading to 3,000% Premarket....unbelievable...
Not touching this one...too high already.
$EGLE
All the seeking alpha people got burned yesterday....lol...article came out over the weekend that propped it up for a day...back down she goes
Sold half here yesterday. Sold at .81 (above ask).
People are searching for the money...but it Has a chance I being dormant....thus i sold half.
I play at 30% drop......double- half above ask.....
I am willing to do that to .15; if situation remains the same????i call bluff; all in!
What's a pinch? It seems as you got the last trade correct....
IMO, you missing the big picture.....this is a minimum $2.00-2.50 stock.
If this takes longer than I think to go??? I will bleed out money from my other equities until I make a fortune.
If a big player makes an error when predicting the future, bit has assets to back the error in judgement; they typically will settle for zero-10% gains on original position (depending on how the play tax game it may vary) , but will ad a 10-20% position that will acheive 100-300% gains (this variance would be dependent on the above)....this results in an overall gain for big player of 20%+ while taking tax losses along the way....
Only problem; things change--including the game
Any research or ideas on length of time to exit current sentiment?
IMO, we aren't below $2 very long...days??? (opinion is based on lack of experience in regards to prior question)...
doubled position. buy signal @ .95
such a low float and news; yet pps has a trading range? doesn't make sense, yet
Sold half of my small position at 1.10 (my entry pps).
I think it may be a bit; like something else more....trading is super interstIng, but I can't read it at all amd will wait
There is no volume for a loading zone....or time....in 2-5 days I right or wrong.
I wish I had the composure to go large, but I've only got about 10% portfolio here.
The deal was made the day the stock traded $50m!
This is like betting a 15/1 horse that had an initial line at 3/1....
You have to have something to lose something; on the books atleast; yes mc, rev, assets....
$EGLE loading zone potential.
If market cap is 20m and income is -136m http://finviz.com/quote.ashx?t=EGLE
Something is off with picture with 0 debt one here.
Forgot to post earlier for my own accountability. I Buy
Notice of Delisting or Failure to Satisfy a Continued Listing Rule or St
Form 8-K for EAGLE BULK SHIPPING INC.
http://biz.yahoo.com/e/140813/egle8-k.html
13-Aug-2014
ITEM 3.01. NOTICE OF DELISTING OR FAILURE TO SATISFY A CONTINUED LISTING RULE OR STANDARD; TRANSFER OF LISTING.
In response to the announcement by Eagle Bulk Shipping Inc. (the "Company") that it filed a voluntary prepackaged case (the "Prepackaged Case") under chapter 11 of title 11 of the United States Bankruptcy Code (the "Code"), the Nasdaq Stock Market Listing Qualifications Staff (the "Staff") issued a delisting determination letter to the Company on August 8, 2014. The letter indicated that the Staff has determined to delist the Company's common stock from the Nasdaq Global Select Market as a result of the Company's decision to file such a petition for relief under the Code, and associated public interest concerns raised by such filing, pursuant to the discretionary authority provided under Marketplace Rules 5101, 5110(b) and IM-5101-1. The Staff's letter also cited concerns regarding the residual equity interest of the holders of the existing common stock, as well as concerns about the Company's ability to sustain compliance with all requirements for continued listing on the Nasdaq Stock Market, as reasons for the delisting determination.
The Staff's letter further advises the Company that trading of the Company's common stock will be suspended at the opening of business on August 19, 2014 unless it requests a hearing with a Nasdaq Listing Qualifications Hearing Panel (the "Panel") to appeal the proposed delisting. The Company intends to request a hearing with the Panel to appeal the proposed delisting. The Company's common stock will remain listed on the Nasdaq Global Select Market pending the outcome of the hearing.
I think it will trade upto 1.80 on Monday ... What do you think ?
EGLE, looking really nice!
Good luck, fellow Traders.
Regards from Vienna/Austria
Herbert
Sell off from day traders near close I guess ... Tomorrow should be a reversal to high 1.90$
Looks like eagle is flying ... Looks like BK deal will give more value then the current stock price
Time to buy or average out before it hits 2$ ...
Geneco Shipping Similar deal read example.... Was a NASDAQ Stock lost its Nasdaq status after the financial restructuring and became OTCBB Listing Now trades as GNKSF on the OTCBB for eight dollars a trade so hang in there I think
NEW YORK (TheStreet) -- Genco Shipping & Trading Ltd. (GNK_) stock is soaring 42.18% to $2.18 Friday after a rollercoaster ride during premarket trading.
Before the opening bell, the steel shipping company saw a sharp double digit drop before shooting back up.
Late Thursday night Genco announced it had reached "a restructuring agreement with a majority of lenders that gives it a road map for a Chapter 11 bankruptcy reorganization," Bloomberg reported.
The deal includes the conversion of a 2007 credit line into 81.1% of the equity in the company once it is restructured. The $125 million of convertible securities the company has would be switched out for 8.4% of the equity, according to a Genco regulatory filing.
Jumboo is absolutely correct. After Equity and warrants the common stock should equal approximately $2.00 - $2.10 per share of common stock the time to buy or average down is now. and the stock should in my opinion rally to around $2 before the deal then level off and resume normal trading after the proposed deal of financial restructuring it is stated but of course there is no guaranties. However after the financial restructuring Eagle Shipping will honor all company contract retain employees and operate normally as well as maintain its Nasdaq listing as stated in the article. So I agree with Jumboo the time to buy or average down is now. I personally will be buying low and selling high,,, in an article it explains in more technical detail as follows on ABL Advisor.....
"We expect our business activities to continue in the normal course during the restructuring process. The Company's reputation has been built on superior industry relationships and operational excellence – attributes that we will build on moving forward."
Under the terms of the Plan, the Lenders will convert their debt into 99.5% of the new equity in the reorganized Eagle Bulk, subject to dilution, and receive a cash distribution from the proceeds of an exit financing facility. All existing equity interests in Eagle Bulk will be cancelled, with such equity interests receiving, subject to dilution, 0.5% of the new equity in the reorganized Eagle Bulk and seven-year warrants to acquire an additional 7.5% of the new equity in the reorganized Eagle Bulk.
To further ensure that its suppliers, chartering counterparties, business partners, crew members, and employees are unaffected by the restructuring process, Eagle Bulk is seeking customary "first day" motions with the Court to authorize continued payments in the ordinary course of business.
Once it comes after bankruptcy the 0.5% equity and warrants together will come to around 2$ a share ... In my opinion it's undervalued right now and I will load up more Monday ..
YIKES! -- READ THE CHAPTER 11 PLAN!
http://ih.advfn.com/p.php?pid=nmona&article=63168683
"Under the terms of the Plan, the Lenders will convert their debt into 99.5% of the new equity in the reorganized Eagle Bulk, subject to dilution, and receive a cash distribution from the proceeds of an exit financing facility.
***********"All existing equity interests in Eagle Bulk will be cancelled, with such equity interests receiving, subject to dilution, 0.5% of the new equity in the reorganized Eagle Bulk and seven-year warrants to acquire an additional 7.5% of the new equity in the reorganized Eagle Bulk."
Do you happen to know if EGLE will get its Q?
$EGLE recent news/filings
bullish nasdaq pick
## source: finance.yahoo.com
Wed, 06 Aug 2014 22:51:42 GMT ~ [$$] Eagle Bulk Files Prepackaged Bankruptcy Plan
read full: http://online.wsj.com/articles/eagle-bulk-files-prepackaged-bankruptcy-plan-1407333517?mod=yahoo_hs
*********************************************************
Wed, 06 Aug 2014 17:03:41 GMT ~ Eagle Bulk Shipping Goes to the Birds
read full: http://blogs.wsj.com/bankruptcy/2014/08/06/eagle-bulk-shipping-goes-to-the-birds/?mod=yahoo_hs
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Wed, 06 Aug 2014 14:28:46 GMT ~ Eagle Bulk Shipping Inc. Reaches Agreement With Lenders To Significantly Reduce Debt And Strengthen Balance Sheet
[at noodls] - NEW YORK, Aug. 6, 2014 /PRNewswire/ -- Eagle Bulk Shipping Inc. (Nasdaq: EGLE) ("Eagle Bulk" or "the Company") today announced that it has entered into a Restructuring Support Agreement ...
read full: http://www.noodls.com/view/76F0414A7A1F6873FADC13F823B2CD133D8FE8AB
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Wed, 06 Aug 2014 14:28:00 GMT ~ Why Eagle Bulk Shipping (EGLE) Stock Is Soaring Today
read full: http://www.thestreet.com/story/12835650/1/why-eagle-bulk-shipping-egle-stock-is-soaring-today.html?puc=yahoo&cm_ven=YAHOO
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Wed, 06 Aug 2014 14:22:25 GMT ~ The Daily Docket: Eagle Bulk Enters Chapter 11
read full: http://blogs.wsj.com/bankruptcy/2014/08/06/the-daily-docket-eagle-bulk-enters-chapter-11/?mod=yahoo_hs
*********************************************************
$EGLE charts
basic chart ## source: stockcharts.com
big daily chart ## source: stockcharts.com
big weekly chart ## source: stockcharts.com
$EGLE company information
## source: otcmarkets.com
Link: http://www.otcmarkets.com/stock/EGLE/company-info
Ticker: $EGLE
OTC Market Place: Not Available
CIK code: 0001322439
Company name: Eagle Bulk Shipping, Inc.
Incorporated In:
$EGLE share structure
## source: otcmarkets.com
Market Value: $26,536,474 a/o Aug 06, 2014
Shares Outstanding: 16,902,213 a/o Mar 31, 2014
Float: Not Available
Authorized Shares: Not Available
Par Value: 0.01
$EGLE extra dd links
Company name: Eagle Bulk Shipping, Inc.
## STOCK DETAILS ##
After Hours Quote (nasdaq.com): http://www.nasdaq.com/symbol/EGLE/after-hours
Option Chain (nasdaq.com): http://www.nasdaq.com/symbol/EGLE/option-chain
Historical Prices (yahoo.com): http://finance.yahoo.com/q/hp?s=EGLE+Historical+Prices
Company Profile (yahoo.com): http://finance.yahoo.com/q/pr?s=EGLE+Profile
Industry (yahoo.com): http://finance.yahoo.com/q/in?s=EGLE+Industry
## COMPANY NEWS ##
Market Stream (nasdaq.com): http://www.nasdaq.com/symbol/EGLE/stream
Latest news (otcmarkets.com): http://www.otcmarkets.com/stock/EGLE/news - http://finance.yahoo.com/q/h?s=EGLE+Headlines
## STOCK ANALYSIS ##
Analyst Research (nasdaq.com): http://www.nasdaq.com/symbol/EGLE/analyst-research
Guru Analysis (nasdaq.com): http://www.nasdaq.com/symbol/EGLE/guru-analysis
Stock Report (nasdaq.com): http://www.nasdaq.com/symbol/EGLE/stock-report
Competitors (nasdaq.com): http://www.nasdaq.com/symbol/EGLE/competitors
Stock Consultant (nasdaq.com): http://www.nasdaq.com/symbol/EGLE/stock-consultant
Stock Comparison (nasdaq.com): http://www.nasdaq.com/symbol/EGLE/stock-comparison
Investopedia (investopedia.com): http://www.investopedia.com/markets/stocks/EGLE/?wa=0
Research Reports (otcmarkets.com): http://www.otcmarkets.com/stock/EGLE/research
Basic Tech. Analysis (yahoo.com): http://finance.yahoo.com/q/ta?s=EGLE+Basic+Tech.+Analysis
Barchart (barchart.com): http://www.barchart.com/quotes/stocks/EGLE
DTCC (dtcc.com): http://search2.dtcc.com/?q=Eagle+Bulk+Shipping%2C+Inc.&x=10&y=8&sp_p=all&sp_f=ISO-8859-1
Spoke company information (spoke.com): http://www.spoke.com/search?utf8=%E2%9C%93&q=Eagle+Bulk+Shipping%2C+Inc.
Corporation WIKI (corporationwiki.com): http://www.corporationwiki.com/search/results?term=Eagle+Bulk+Shipping%2C+Inc.&x=0&y=0
## FUNDAMENTALS ##
Call Transcripts (nasdaq.com): http://www.nasdaq.com/symbol/EGLE/call-transcripts
Annual Report (companyspotlight.com): http://www.companyspotlight.com/library/companies/keyword/EGLE
Income Statement (nasdaq.com): http://www.nasdaq.com/symbol/EGLE/financials?query=income-statement
Revenue/EPS (nasdaq.com): http://www.nasdaq.com/symbol/EGLE/revenue-eps
SEC Filings (nasdaq.com): http://www.nasdaq.com/symbol/EGLE/sec-filings
Edgar filings (sec.gov): http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001322439&owner=exclude&count=40
Latest filings (otcmarkets.com): http://www.otcmarkets.com/stock/EGLE/filings
Latest financials (otcmarkets.com): http://www.otcmarkets.com/stock/EGLE/financials
Short Interest (nasdaq.com): http://www.nasdaq.com/symbol/EGLE/short-interest
Dividend History (nasdaq.com): http://www.nasdaq.com/symbol/EGLE/dividend-history
RegSho (regsho.com): http://www.regsho.com/tools/symbol_stats.php?sym=EGLE&search=search
OTC Short Report (otcshortreport.com): http://otcshortreport.com/index.php?index=EGLE
Short Sales (otcmarkets.com): http://www.otcmarkets.com/stock/EGLE/short-sales
Key Statistics (yahoo.com): http://finance.yahoo.com/q/ks?s=EGLE+Key+Statistics
Insider Roster (yahoo.com): http://finance.yahoo.com/q/ir?s=EGLE+Insider+Roster
Income Statement (yahoo.com): http://finance.yahoo.com/q/is?s=EGLE
Balance Sheet (yahoo.com): http://finance.yahoo.com/q/bs?s=EGLE
Cash Flow (yahoo.com): http://finance.yahoo.com/q/cf?s=EGLE+Cash+Flow&annual
## HOLDINGS ##
Major holdings (cnbc.com): http://data.cnbc.com/quotes/EGLE/tab/8.1
Insider transactions (yahoo.com): http://finance.yahoo.com/q/it?s=EGLE+Insider+Transactions
Insider transactions (secform4.com): http://www.secform4.com/insider-trading/EGLE.htm
Insider transactions (insidercrow.com): http://www.insidercow.com/history/company.jsp?company=EGLE
Ownership Summary (nasdaq.com): http://www.nasdaq.com/symbol/EGLE/ownership-summary
Institutional Holdings (nasdaq.com): http://www.nasdaq.com/symbol/EGLE/institutional-holdings
Insiders (SEC Form 4) (nasdaq.com): http://www.nasdaq.com/symbol/EGLE/insider-trades
Insider Disclosure (otcmarkets.com): http://www.otcmarkets.com/stock/EGLE/insider-transactions
## SOCIAL MEDIA AND OTHER VARIOUS SOURCES ##
PST (pennystocktweets.com): http://www.pennystocktweets.com/stocks/profile/EGLE
Market Watch (marketwatch.com): http://www.marketwatch.com/investing/stock/EGLE
Bloomberg (bloomberg.com): http://www.bloomberg.com/quote/EGLE:US
Morningstar (morningstar.com): http://quotes.morningstar.com/stock/s?t=EGLE
Bussinessweek (businessweek.com): http://investing.businessweek.com/research/stocks/snapshot/snapshot_article.asp?ticker=EGLE
$EGLE DD Notes ~ http://www.ddnotesmaker.com/EGLE
great pre-market buy dang sub 1.00
This thing has been trading like it's going BK so I think this is good news. Low OS so it should pop today.
this is the tricky part - Under the terms of the Plan, the Lenders will convert their debt into 99.5% of the new equity in the reorganized Eagle Bulk, subject to dilution, and receive a cash distribution from the proceeds of an exit financing facility. All existing equity interests in Eagle Bulk will be cancelled, with such equity interests receiving, subject to dilution, 0.5% of the new equity in the reorganized Eagle Bulk and seven-year warrants to acquire an additional 7.5% of the new equity in the reorganized Eagle Bulk.
not sure how that will effect common
Trading today seems to mirror that fact. little bounce going on.
Company Executes Restructuring Support Agreement and Files Prepackaged Plan of Reorganization for Parent with Overwhelming Lender Support --
-- Operating and Management Subsidiaries Excluded from Filing; All Business Activities Continue in the Normal Course --
-- Plan Expected to Reduce Total Debt by Approximately $975 Million and Provides Payment in Full for Trade Creditors --
-- Company Secures up to $50M in DIP Financing --
NEW YORK, Aug. 6, 2014 /PRNewswire/ -- Eagle Bulk Shipping Inc. (Nasdaq: EGLE) ("Eagle Bulk" or "the Company") today announced that it has entered into a Restructuring Support Agreement ("RSA") with lenders (the "Lenders") holding more than 85% of the loans outstanding under its Fourth Amended and Restated Credit Agreement, dated June 20, 2012 (the "Credit Agreement"), regarding the terms of a balance sheet restructuring that will strengthen Eagle Bulk's financial position, reduce its debt obligations by approximately $975 million, and significantly enhance liquidity.
To implement the restructuring, Eagle Bulk, the parent company, has commenced a voluntary "prepackaged" chapter 11 case in the United States Bankruptcy Court for the Southern District of New York (the "Court"). The prepackaged case, which excludes all of the Company's operating and management subsidiaries, is intended to facilitate a prompt exit from the financial restructuring process without disruption to Eagle Bulk's business.
In conjunction with the prepackaged case, Eagle Bulk also filed its proposed plan of reorganization (the "Plan") and related disclosure statement. The Company has already received affirmative votes for the Plan from Lenders holding more than 85% of the loans outstanding under its Credit Agreement, constituting more than two-thirds of the total Lenders thereunder, amounts sufficient under applicable law for the Court to confirm the Plan.
Eagle Bulk has also obtained a commitment for up to $50 million of debtor-in-possession ("DIP") financing from certain of its Lenders which, subject to Court approval, will significantly enhance liquidity.
During the process, Eagle Bulk intends to continue normal day-to-day operations, including:
Honoring all customer arrangements in the ordinary course of business;
Payment of amounts owed to the Company's vendors, suppliers, and business partners; and,
Uninterrupted payment of wages, salaries, and other compensation to the Company's crew, employees, and independent contractors.
Eagle Bulk's management will remain in place and Sophocles N. Zoullas will remain Chairman and Chief Executive Officer of the reorganized Eagle Bulk.
"With an expedited restructuring process now underway, we are pleased to have the ongoing support of our Lenders, with whom we will work in partnership to recapitalize Eagle Bulk's balance sheet and significantly reduce the Company's debt load," Mr. Zoullas commented. "We continue to benefit from a world-class, highly-efficient and versatile fleet, and a deep and experienced management team. Upon emergence from the process, we will continue to build on these competitive advantages and further grow our leadership position in the dry bulk market. We are grateful for the strong support from our Lenders, and look forward to the emergence of an Eagle Bulk that is well-positioned for many years of success."
Mr. Zoullas concluded, "We expect our business activities to continue in the normal course during the restructuring process. The Company's reputation has been built on superior industry relationships and operational excellence – attributes that we will build on moving forward."
Under the terms of the Plan, the Lenders will convert their debt into 99.5% of the new equity in the reorganized Eagle Bulk, subject to dilution, and receive a cash distribution from the proceeds of an exit financing facility. All existing equity interests in Eagle Bulk will be cancelled, with such equity interests receiving, subject to dilution, 0.5% of the new equity in the reorganized Eagle Bulk and seven-year warrants to acquire an additional 7.5% of the new equity in the reorganized Eagle Bulk.
To further ensure that its suppliers, chartering counterparties, business partners, crew members, and employees are unaffected by the restructuring process, Eagle Bulk is seeking customary "first day" motions with the Court to authorize continued payments in the ordinary course of business.
Court documents and other information for the Company's stakeholders are available on a dedicated website administered by Eagle Bulk's noticing agent, Kurtzman Carson Consultants, at www.eaglebulkrestructuring.com, or by calling 877-709-4746 (424-236-7227 for international calls). Inquiries may also be emailed to: eaglebulkinfo@kccllc.com.
Eagle Bulk's legal advisor is Milbank, Tweed, Hadley & McCloy LLP, its financial advisor is Moelis & Company, and its restructuring advisor is Alvarez & Marsal.
About Eagle Bulk Shipping Inc.
Eagle Bulk Shipping Inc. is a Marshall Islands corporation headquartered in New York. The Company is a leading global owner of Supramax dry bulk vessels that range in size from 50,000 to 60,000 deadweight tons and transport a broad range of major and minor bulk cargoes, including iron ore, coal, grain, cement and fertilizer, along worldwide shipping routes.
The Genco bankruptcy pretty much explains it. Glta, I hope it works out.
I am hurting real bad ... Does anyone know what's going on ? What's causing the fall ...
The shipping industry runs on tight margins and things are not good for the sector, especially for the smaller operators. I've not looked into this company that much but it's financial stability is very questionable based on the financials.
I'm not sure why the decline but this seems to be a very volatile stock for it just could be daytrading going on but it does seem to be basing lower and lower which is not good.
Not sure either. Searched everywhere for news, nothing. Probably it got leaked somewhere. Maybe after hours we will know
Why is this tanking bro?? Im hurting bad
Are you still in ??
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This board's subject is fundamental and technical discussion about Eagle Bulk Shipping Inc., EGLE.
Eagle Bulk Shipping Inc. is a holding company. Through its subsidiaries, the Company is engaged primarily in the ocean transportation of a range of major and minor bulk cargoes, including iron ore, coal, grain, cement and fertilizer, along worldwide shipping routes. As of December 31, 2006, Eagle Bulk Shipping Inc. owned and operated a fleet of 16 oceangoing vessels with a combined carrying capacity of 796,663 deadweight tons. The Company carries out the commercial management of its fleet through its wholly owned subsidiary, Eagle Shipping International (USA) LLC. Eagle Bulk Shipping Inc. expanded its fleet from 13 vessels to 16 vessels by acquiring the KESTREL I, TERN and JAEGER in June and July 2006, respectively. In August 2007, Eagle Bulk Shipping Inc. announced that it has completed the fleet acquisition from the parent of Anemi Maritime Services, a private Greek shipping company.
477 Madison Avenue
New York, NY 10022
(212) 785-2500
http://www.eagleships.com/
Eagle Bulk Shipping Inc. Reports Fourth Quarter and Fiscal Year 2008 Results
http://www.eagleships.com/phoenix.zhtml?c=189576&p=irol-newsArticle&ID=1261693&highlight=
http://finance.yahoo.com/news/Eagle-Bulk-Shipping-Inc-to-pz-15054442.html
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Best DD for all Dry bulk carriers can be found in the Dryships IBOX by Eastunder
http://investorshub.advfn.com/boards/board.aspx?board_id=10556
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