Parker Drilling Co. (PKDC)

[Chrisny73]

I'd like to see them pursue some acquisitions to breath some life into this thing

[today32]

It's forming a really solid bottom at $6, could see a pop to $10 before long.

[Chrisny73]

I'd love for this stock to run to 70.00$ before sept 2024.... i'm holding warrants

[ADN7880]

Reached out to investor relations inquiring about the warrants and received the following reply from their Finance Director, ”Nothing happens to the Warrants. They remain in place and all terms remain the same: They expire on 09/16/2024 and have an exercise price of $48.85 per share.”

[Renee]

re Warrants: I have no idea. Best to contact the company.

[Chrisny73]

what happens to those warrants if you held through the bankruptcy?

[Renee]

PKDC: Per the Company's SEC filings, holders owning less than 50 shares immediately prior to the effective time of the reverse stock split are entitled to be paid $30.00 per pre-split share in lieu of such fraction of a share. The shares of holders owning at least 50 shares immediately prior to the effective time of the reverse stock split and upon the forward stock split were reclassified into the same number of shares held immediately prior to the effective time of the reverse stock split.

One for 50 reverse split, followed by a 50 for one forward split.

https://otce.finra.org/otce/dailyList?viewType=Symbol%2FName%20Changes

[Renee]

PKD changed to PKDC. Delisted from the NYSE to the OTC:

https://otce.finra.org/otce/dailyList?viewType=Additions

[Chrisny73]

looking quite bearish roday as we await for earnings to be released today.... Hope they meet or beat expectations

[Chrisny73]

It's nice to see this stock reaching highs but we always seem to end up down by the end of the day..... Let's have some consolidation

[Chrisny73]

only .30 cents off the high...… Holding nicely

[Chrisny73]

Slow climb back to 24.00 for a new sipport leval….. Add earnings to the mix and we should see low 30s

[Chrisny73]

Looks like we have some optimism in the stock as we approach the end of the quarter... Hoping we break past 25.00 and into the 30 leval as imperial capital is projecting

[chico2663]

.015 per share and 1.65 warrant per share

[Chrisny73]

I don't know the conversion rate but if you owned pkdsq it converted to the restructured pkd and you should have warrants as well......We've got till sept 2024 to see if this company can soar with no debt...… Fingers crossed for war in the middle east....

[fio1259]

Did they issue any new shares and how many for each PKDSQ?

[Chrisny73]

It's always a good thing to open up in the green

[Chrisny73]

I'm praying to the stock gods that we have war in the middle east and Venezuela to cause the price of oil to soar...… Let's get this baby moving

[Chrisny73]

Just heard back from the Company: It's 5.5 years so the expiration is Sept 2024.
Hopefully in 5 or so years we can run to over 100.
Fingers crossed

[Chrisny73]

I thought these warrants expired on 9/26 of this year

[nathanial]

No bid ask yet on PKD.

[nathanial]

https://investors.parkerdrilling.com/press-releases/detail/248/parker-announces-approval-for-listing-on-the-nyse

Thanks and trading might start tomorrow.

[jsabre]

I think it might start today, PKD back on account and ask is set at 0.431

[nathanial]

Trading starts tomorrow?

[Capito]

Yea, and per warrant agreement: one warrant to one share. Exercise price is $48.85. Also 5 and half years expiry date. What a sweet deal!

[jsabre]

Approved to re-list on the NYSE starting on April 3 under the symbol PKD wow this is gonna be fun.

https://www.sec.gov/Archives/edgar/data/76321/000007632119000032/a8-knyselisting.htm

[Capito]

I have one entry now in my portfolio! Am so excited about this.

[Chuxster]

I purchased in total $5660 worth of PKDSQ shares prior to yesterday. Lets hope it was worth it.

[Chuxster]

Yes, saw them in my TD Ameritrade account this evening around 6 pm. I am happy about that.

[Capito]

Yea, I have E*TRADE

[nathanial]

What brokerages? ETrade is usually pretty quick.

[Capito]

For real? How come I don't have any yet? May be tomorrow I guess

[jsabre]

Wow just looked at my account and there are two different entries. Nice this could really get big when they list nyse

[Capito]

Most likely commons and warrants. I have not noticed anything new in my account yet. Watching and waiting

[nathanial]

Received a few PMs saying two entries are showing in their accounts. Could it be commons, rights, and/or warrants?

[jsabre]

Released new 8k yesterday emerged from bankruptcy and quit trading on the otc and plan to continue on nyse as soon as possible.
https://investors.parkerdrilling.com/press-releases/detail/247/parker-drilling-successfully-completes-restructuring-process

[Capito]

Not sure yet. I have zero value for my old shares now. Once new symbol comes am sure it will update our accounts. Fingers crossed

[Capito]

They filed several form EFFECT on Monday which shows registration of shares approved. They are leaving otc and moving to new higher exchange per news on their emergence from bankruptcy yesterday. We should be expecting new share I suppose!

[nathanial]

Is there a new symbol?

[nathanial]

Level 2 is a blank screen for PKDSQ. Symbol change that I don't know about?

[chico2663]

my pps is over 1.0. Would be nice if it was close to that.

[nathanial]

Yes, they can but I don't think that would be in the best interest of their image with employees and shareholders.

Something would be better than nothing.

[chico2663]

Can they just say to bad? They already screwed us with a r/s. I bought some stock around 1230. It would suck if they can just say screw you to us.

[nathanial]

Anything is possible.

[Capito]

I think we all get the new shares tomorrow and also warrants! Fingers crossed!

[nathanial]

I don't think we know for sure yet. Seems current shares are cancelled but there seems to be a distribution of something.

The no quote at the end of the day seems to support the cancellation of the shares, but there might be a pro-rata distribution based on the number of current shares owned?

[chico2663]

so what happened to those shares i own?

[Renee]

PKDSQ: Bankruptcy PLAN effective. All shares cancelled: NOTE: FINRA includes the word Distribution but no explanation.

https://otce.finra.org/otce/dailyList?viewType=Deletions

[nathanial]

There was no bid ask on ETrade Pro the last 15 minutes today under symbol PKDSQ. The screen was blank.

[Capito]

Where did you check and did not find quote. I saw quote all day today on E*TRADE. Only that I did not check in last few minutes. I won’t be surprised though. They had their registration document approved with bunch of filings yesterday!