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Your proper share count, after the dust settles, assuming you did not sell or buy after 7/2/2018, would be:
.0037345 X your old share count.
e.g.
2000 old shares should be .0037345 X 2000 = 7.469 shares. Rounded up would be 8 shares.
Not rounded up = 7 shares.
P.S. what is ASDRL, a typo?
You're even more so due to the lack of explanation for your comment.
Here why don't you solve this for me since you know what's going on:
I had 2000 old shared of SDRL. I just got the new SDRL shares a few hours ago.
If 1 share of old SDRL is .003 of 1 new ASDRL how do I still have 1000 shares of NEW SDRL.
Please show me your math.
Feel bad for you man. You are clueless
shares x 0.00375 It is correct
Was the number of new shares you received a rounded up number?
I got the new shares I have 1000 new shares though I had 2000 left of the old ones after selling before the transfer.
I mean I'm not complaining or anything but I'm pretty sure at .003 2000 old shares does not equal 1000 new shares.
Because their broker was to slow to block the old ones. Today i received the new shares.
huh.
if old shares are worth .003 of the new shares how do I still have 1000 shares of the new one when I had 2000 for the old one?
The math doesn't add up, wouldn't I have less than 1000 shares?
Weird.
so what that its a naked short. Doubtful they'll bust that trade as those shares were likely traded back and forth by many other day traders and investors at this point. They'll just likely force cover him and give him a massive margin call as he didn't have enough $ to cover the trade. But he'll likely get to keep the gains.
I was in a weird play maybe 15 years back where dilutor sold shares after massive reverse split but before a forward split. Think there was 11 total shares and he sold 100,000s. After forward split think I had $2.4M position and sold like 30k worth and everyone on message boards were screaming sellers will be force covered leading to massive short squeeze. Got scared and didn't sell anymore as was afraid to lose money I had. Had I not had much net worth would have sold all and hoped for the best. Worst case end up bk but if you had no $ to begin with worth the risk given possible gains. Few days later trading was halted and never resumed. My account was frozen for a bit but eventually my sells stood, got to keep the 30k. There was a guy that had just a few k $s and post split ended up with 1.5 million position that he sold and got to keep his money.
No doubt they are not happy campers right now.
I just wonder what happened to those who sold before they got their reorganized shares.
got it, so I didn't miss out on a major rip.
There was no reverse split.
It was a bankruptcy reorganization. The Old Seadrill shares were cancelled. What is trading is the New Seadrill shares, most of which have been issued to debtors, creditors, and the new financiers.
Old Seadrill shareholders received just 1.6% of the new company's equity. Which means even considering today's rise in price, the stock is still down 33% from the trading price on Monday.
hey guys, was this an Rs or pop on the settlement, I sold last year just because lol.
On the Effective Date, the Company will have approximately 100 million New Common Shares outstanding. The New Common Shares will be allocated as set forth below, in accordance with provisions of the Plan and issued on the Effective Date:
14.25% of the New Common Shares issued to holders of unsecured claims against the Company and certain of its chapter 11 debtor affiliates;
23.75% of the New Common Shares issued to participants in the $200 million equity investment under the Plan;
54.625% of the New Common Shares issued to participants in the $880 million new secured notes investment under the Plan;
1.9% of the New Common Shares issued to holders of existing common equity interest in the Company as of the Effective Date, an effective exchange ratio of approximately 0.0037345 New Common Shares per each Existing Share, and
5.475% of the New Common Shares issued as a structuring fee to certain of the new money investors.
That number is available everywhere. It is in Seadrill's own News Release announcing their emergence from Chapter 11.
Where did you view that number?
There are 100 million shares outstanding, which gives the Company a market cap of over $2 billion. That still looks expensive compared to its off-shore drilling peers, but a full analysis is difficult without current financials.
Currently, about 16 million shares are currently available for trading, with the remainder to be available for trading over the coming weeks and the creditors receive them.
So doing some math I believe we now have over 16 million shares authorized and over 10 million in the float. I know some shares have been scooped by the oddball split thus reducing shares even more, all good things for a company coming out of BK. Now at the price of 20 dollars a shr. we have a market cap of 320 million dollars which is where we were after emerging with 3%. Add on top of that the reported settlements and the earnings for the future you can see with a healthy modifier that we are way underpriced here at this time, imo. We won't get clarity until the filing.
$SDRL: This is now a NYSE listed STOCK.... $11Billion MarketCap
With over $2.5Billion in Backlogs.
Oil well over $73/bbl and going higher now that Iran production
going off line due to US Sanctions.
$SDRL will profit from this.
Perfect timing for them to get back in the game.
$SDRL can very very easily get over $50/sh with still a forward P/E
that isn't far off from industry peers.
GO $SDRL
From memory were we not at over 500 million shares and so if you take like 275 shares and give one how many shares do we have and if it still is 500 million, that is incredibly massive dilution. I would sure like to know how many tradeable shares there are to price this thing, if the shares have been reduced this could easily go to a hundred a share, any thoughts out there?
The one penny stock that actually is going to grow afterwards instead of crashing after a stock split.
I'm looking at your Mr.Moviepass helios.
Yeah as i said they are a bit behind. But one thing about Robinhood is that its glitchy so who knows you may get lucky and have double the shares than you had.
$SDRL: EXACTLY RIGHT.... $45/sh not to far off now
Finally someone here GETS IT !!!!!!!!
Recapitalized.
Restructured.
READY.... to ........ GO !
Have a great day all.
GO $SDRL
Robinhood Reply:
Thanks for reaching out, and we apologize for any inconvenience this may have caused.
SDRL is executing a mandatory exchange at a rate of 0.0037345 new SDRL shares per 1 SDRL share previously held.
You won’t be able to trade this stock while our team works to process the corporate action.
Once we have information to report, you'll be able to find details on our corporate tracker.
Keep in mind, if a stock you own goes through a corporate action, the average cost displayed in your app may be different than the dollar amount you originally spent. This won’t affect your account balance, cost basis, or the value of your positions.
We appreciate your patience while we process this corporate action.
At this moment 9 cents
Thanks for the info
We got fair market value for our shares, i.e .10 cents a share, it is trading now at the equivalence to roughly .06 cents a share, the stock after the lawsuit monies had a estimated value with the old share structure of over 500 million trade able shares to, oh crap, why waste the time.
30000 turned to 111 little guys lose
Some guys got them. But just to let you know Robinhood is slow as heck and is almost always one of the last ones to update splits/mergers/acquistions or some reason.
I mean i guess you get what you pay for which with Robinhood is nothing in this case.
Still mad Robinhood took off warrants and half the etfs last year. If you want a good free alternative I suggest M1.
New shares haven’t been issued to brokers yet.
Anyone knows why Robinhood isn't allowing trading on SDRL stocks?
If he shorted that much wouldn’t he need a ton of money for collateral? How could that order even clear?
That was my point. But thanks for coming out with your "wrong" statement to start off your response.
Shareholders of old sea drill will receive .00375xx for every share they previously held. Once the conversion is complete the truth of the reality will appear in their accounts. The point was that the poster was claiming his account was reflecting all his old shares based on the new SDRL trading price from today.
It was a glitch or he was lying.
IF he did sell his shares then I don't think he should be held accountable....that is the responsibility of the brokerage firm and parties related.
Wrong. The old shares are done for, and have no carry over value to the new. He is now short, and in a world of hurt if he doesn't get the trade reversed.
The old commons never traded today. They stopped trading on the NYSE immediately upon the filing of the Form 15-12B yesterday which automatically disqualified them from an Exchange listing.
https://www.sec.gov/Archives/edgar/data/1351413/000119312518211568/d536677d1512b.htm
They would have stopped trading on the 2nd of July (yesterday), so 100% of the trading today was the New Seadrill. Or, at least, was supposed to be. I am sure some holders of the Old Seadrill mistakenly traded those shares today because their discount brokers were slow to restrict trading of the old shares. Those brokers, and their clients, are in a lot of trouble because of it.
What time were the old commons suspended from trading?
The notice below was filed with the SEC at 11:02 AM on 7/3/2018.
The Exchange also notifies the Securities and Exchange Commission that as a result of the above indicated conditions this security was suspended from trading on July 3, 2018.
https://www.sec.gov/Archives/edgar/data/1351413/000087666118000780/ruleprovisionnotice.htm
For those still holding old common shares per the sec filing you will receive a conversion of .0037345 of new common stock per the effective date and old common shares were suspended from trading today.
Come on !!! Trade debt for shares !
Oil hit 26.00 bucks ! Theirs no way seadrill could go online! They sat and sat ! Zero money!!!85.00 a barrel !!! Goes on line !!! Full steam ahead!
Investors may want to be cautious before buying stock in Seadrill Limited (SDRL). Although shares are trading at rock-bottom prices as of June 2018, there is a great deal of risk for Seadrill and the drilling sector as a whole. Seadrill’s stock price is closely correlated with the price of crude oil, which has grown this year. In 2017, Seadrill filed for bankruptcy in order to shrink the debt burden. The secured agreement supported a plan to inject $1 billion in new capital as well as wiping out existing shareholders.
https://www.investopedia.com/articles/markets/071515/it-perfect-time-buy-seadrill.asp?utm_campaign=quote-nasdaq&utm_source=nasdaq&utm_medium=referral&utm_term=fb-capture&utm_content=#ec|rss-nasdaq
Trading in approximately 16 million New Common Shares issued to existing shareholders and holders of unsecured claims will commence on the NYSE one day after the Effective Date, on July 3, 2018, under the ticker symbol "SDRL". Additional shares may commence trading in the coming weeks after a resale registration statement on Form F-1 with respect to additional shares issued on the Effective Date to certain investors is declared effective by the Securities and Exchange Commission. The Existing Shares will continue to trade on both the NYSE and Oslo Stock Exchanges under the same ticker symbol through the close of trading on the Effective Date but thereafter such trading will be suspended and the shares will be cancelled in due course.
Because the Company will continue to use the ticker symbol SDRL, holders of Existing Shares, brokers, dealers and agents effecting trades in the Existing Shares, and persons who expect to receive New Common Shares or effect trades in New Common Shares, should take note of the anticipated cancellation of the Existing Shares and issuance of New Common Shares, and the two different CUSIP numbers signifying the Existing Shares and the New Common Shares, in trading or taking any other actions in respect of shares of the Company that trade under the "SDRL" ticker.
Any questions regarding these distributions should be directed to the Company`s claims and noticing agent, Prime Clerk, on the numbers provided below.
https://finance.yahoo.com/news/sdrl-seadrill-announces-emergence-chapter-174005837.html
$13.875 unless they round his new .75 share up to 1, if so then he will have $18.50 of value at the current PPS
And they will be 1/2 of that Thursday!
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NYSE : $SDRL
http://www.seadrill.com/
Company Address:
P.O. Box HM 1593 |
Par-la-Ville Place, 4th Floor |
14 Par-la-Ville Road |
Hamilton HM 08 Bermuda |
(441)295-6935 |
CIK: 74153Q102
Seadrill is an international offshore drilling contractor providing services within drilling and well services.
Together with partners, the company has 37 drilling units, of which 15 are under construction. Seadrill's versatile fleet includes harsh-environment semi-submersibles, jack-ups, shallow and deepwater tender rigs and deepwater drillships. In addition, Seadrill provides platform drilling, well intervention and engineering services.
Seadrill has some 5,400 skilled and highly competent employees, many of these with more than 30 years experience, representing over 25 nationalities, operating in 14 countries on four continents.
Seadrill is listed on both the NYSE and Oslo Stock Exchanges.
Recent News:
http://finance.yahoo.com/q/h?s=ODP+Headlines
Filings: http://www.sec.gov/edgar/searchedgar/companysearch.html
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