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Hi-Crush Inc. (fka HCRSQ)
wow what ah bagger to shareholders. $HCRSQ
Why did call it good then. LMAO
i am surprised bypassed all shareholders !!!!!
AMTD NOT ACCEPTING TRADES !!!!!
wow what ah bagger to shareholders. $HCRSQ
HCRSQ BK PLAN effective. All shares cancelled.
https://otce.finra.org/otce/dailyList?viewType=Deletions
I know..isn't that what I said?? Or was your post intended for someone else?
Effective immediately, all existing shares of the Company's common stock were cancelled pursuant to the Plan, and the Company issued 9,382,378 shares of New Common Stock pro rata to the holders of allowed claims arising under the Prepetition Notes.
Additionally, the Company is authorized to issue up to an additional 4,262,836 shares of New Common Stock to holders of general unsecured clams pursuant to, and in accordance with, the terms and conditions of the Plan as such holders' general unsecured claims become allowed under the Plan. The New Common Stock will not be traded on a public exchange.
No worries.
Hi-Crush is now a PRIVATE company.. meaning any publically traded shares anyone holds now are "zombie" stocks. i. e. the walking dead.
Its just a matter of time before the SEC removes the ticker preventing further trades.
thanks 56 & looking good
Ok, thanks. Keep us posted.
I emailed the company that question and i have not had a response. If i knew that the new shares were in fact trading, id buy but im still afraid of the cancelled shares still being out there
$HCRSQ whatzzz going on here ????? money run ?????
$HCRSQ what should shareholders expect now ????? $1.00 or more ?????
$HCRSQ good repore' my friend !!!!!
Are the new shares trading now?
Hi-Crush Inc. Successfully Completes Restructuring, Emerges From Chapter 11 Bankruptcy
2020-10-09 17:30 ET - News Release
HOUSTON, Oct. 9, 2020 /PRNewswire/ -- Hi-Crush Inc. (OTCMKTS: HCRSQ), ("Hi-Crush" or the "Company"), a fully-integrated provider of proppant logistics solutions, today announced that effective October 9, 2020, the Company has successfully completed its financial restructuring and emerged from Chapter 11 bankruptcy, having satisfied all of the conditions to the effectiveness of its plan of reorganization (the "Plan"). Through its financial restructuring, Hi-Crush has eliminated approximately $450 million of debt from its balance sheet, as well as more than $76 million of annual interest expense and lease payment obligations.
Effective today, Hi-Crush has entered into a new $25 million Senior Secured Asset Based Loan (the "ABL"), and paid off outstanding amounts under its debtor-in-possession term loan with proceeds from a $43 million equity rights offering. The Company's post-emergence cash balance is approximately $35 million.
New Board of Directors
In accordance with the Plan, today the Company appointed a newly constituted Board of Directors. The new Board consists of Colin Leonard, Brad Kottman, Jacob Mercer, and Marc Rowland, in addition to Robert E. Rasmus, Hi-Crush's Chief Executive Officer. Additional information about the Company's new directors may be found on Hi-Crush's website at www.hicrush.com.
Issuance of New Securities
Effective immediately, all existing shares of the Company's common stock were cancelled pursuant to the Plan, and the Company issued 9,382,378 shares of New Common Stock pro rata to the holders of allowed claims arising under the Prepetition Notes.
Additionally, the Company is authorized to issue up to an additional 4,262,836 shares of New Common Stock to holders of general unsecured clams pursuant to, and in accordance with, the terms and conditions of the Plan as such holders' general unsecured claims become allowed under the Plan. The New Common Stock will not be traded on a public exchange.
Advisors
Lazard acted as investment banker, Latham & Watkins LLP acted as legal counsel, and Alvarez & Marsal acted as restructuring advisor to Hi-Crush Inc.
Moelis & Company acted as financial advisor and Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal advisor to certain holders of Hi-Crush Inc.'s senior unsecured notes.
For More Information
Additional details of the Plan, the new ABL, and the New Common Stock can be found in the Company's prior filings with the SEC, as well as in a Current Report on Form 8-K to be subsequently filed with the SEC on or around October 9, 2020. You may obtain these documents for free by visiting EDGAR on the SEC website at www.sec.gov
This press release does not constitute an offer to sell or purchase any securities, which would be made only pursuant to definitive documents and an applicable exemption from the Securities Act of 1933, as amended.
About Hi-Crush Inc.
Hi-Crush Inc. is a fully-integrated provider of proppant and logistics services for hydraulic fracturing operations, offering frac sand production, advanced wellsite storage systems, flexible last mile services, and innovative software for real-time visibility and management across the entire supply chain. Our strategic suite of solutions provides operators and service companies in all major U.S. oil and gas basins with the ability to build safety, reliability and efficiency into every completion.
12.8 % Held by Institutions
https://www.otcmarkets.com/stock/HCRSQ/news/Hi-Crush-Inc-Successfully-Completes-Restructuring-Emerges-From-Chapter-11-Bankruptcy?id=276553
So if this has happened, does it mean the shares that are currently trading are the new shares? Or the old cancelled shares?
That's what the 8K says anyway.......
z
Looks like they got some financing from JP Morgan..
Looks like they got some financing from JP Morgan.......latest 8KSpy Alert .....
z
Although the Chapter 11 reorganization process is complex and ... Filing for Chapter 11 gives companies one last opportunity to be successful. ... creates a reorganization plan that must be confirmed by the bankruptcy court and ... may require investors to exchange their old bonds for shares or new bonds
What happens to shares after chapter 11 finalized. This puppy will be done? Shares down to 0?
HCRSQ HI CRUSH BY [full emergence from Chapter 11 proceedings by mid-October.]
HOUSTON, Sept. 24, 2020 /PRNewswire/ -- Hi-Crush Inc. (OTCMKTS: HCRSQ), ("Hi-Crush" or the "Company"), a fully-integrated provider of proppant logistics solutions, today announced that the U.S. Bankruptcy Court for the Southern District of Texas has confirmed its Prearranged Plan of Reorganization (the "Prearranged Plan").
Under the terms of the Prearranged Plan, which was approved at a hearing yesterday afternoon, the Company eliminates approximately $450 million of unsecured debt, reduces annual interest expense by more than $43 million, and equitizes certain material general unsecured claims against the Company. The Prearranged Plan provides the Company significant additional liquidity while minimizing operational disruptions.
"We are very pleased to have achieved this successful outcome with our noteholders and creditors," said Mr. Robert E. Rasmus, Chairman and Chief Executive Officer of Hi-Crush. "The confirmation by the court of the Prearranged Plan will allow for the recapitalization of Hi-Crush, and enable our company to continue delivering high quality services to our customers with the added benefit of a significantly improved balance sheet, thereby enhancing Hi-Crush's financial flexibility over the near and long-term. We look forward to continuing to serve our partners across the oil and gas industry as the sector's premier frac sand and frac sand logistics provider."
The Company anticipates finalizing the Prearranged Plan over the coming weeks, subject to standard and customary closing procedures and conditions. Hi-Crush Inc. anticipates full emergence from Chapter 11 proceedings by mid-O
Description
Hi-Crush Inc. is a fully integrated provider of proppant and logistics services for hydraulic fracturing operations, offering frac sand production, advanced wellsite storage systems, flexible last mile services and innovative software for real-time visibility and management across the entire supply chain. Our strategic suite of solutions provides operators and service companies in all major U.S. oil and gas basins with the ability to build safety, reliability and efficiency into every completion.
OS ~ 99,889,96 08/03/2020
News Release Hi-Crush Inc. Announces Successful Confirmation of Plan of Reorganization
12.8 % Held by Institutions
This thing just hit .04 at market open on about 1M shares and got slapped back to .02 on about 100K? WTF?
Recent Trades - Last 10 of 85
Time ET Ex Price Change Volume
12:34:55 Q 0.02645 0.00075 3,300
12:34:36 Q 0.026015 0.000315 500
12:33:30 Q 0.0279 0.0022 100
12:26:02 Q 0.025 -0.0007 48,800
12:16:47 Q 0.02575 0.00005 1,000
12:02:28 Q 0.026885 0.001185 1,000
11:58:08 Q 0.028 0.0023 10,000
11:58:08 Q 0.026 0.0003 9,000
11:57:57 Q 0.029 0.0033 7,500
11:44:20 Q 0.0293 0.0036 5,000
From this article:
The plan, approved Wednesday by Judge David R. Jones of the U.S. Bankruptcy Court for the Southern District of Texas, will allow the reorganized company to continue operating with pre-bankruptcy note holders and general unsecured creditors taking over the equity.
NOTE HOLDERS AND GENERAL UNSECURED CREDITORS TAKING OVER THE EQUITY (IE: NEW COMMON SHARES....MEANING OLD COMMON SHARES ARE CANCELLED)
From the POR... The confirmation by the court of the Prearranged Plan will allow for the recapitalization of Hi-Crush, and enable our company to continue delivering high quality services to our customers with the added benefit of a significantly improved balance sheet,..."
Notice the word in red. This word usually means old common shares are cancelled and new common shares are issued to (at least some of the) debtors. Anyone know different?
added some today too
I've got my eye on that gap at .15 :)
And that's not even confirmed. $HCRSQ
Mid-October isn't next week Sparky :) Plenty of time here.
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