Ultrapetrol Bahamas Ltd. (ULTRF)

[DJN]

In tact, however...

Existing shareholders will retain their ULTR shares, but the company will no longer own any operating businesses.

Never mind I found my answer. No play for me here. Best to those on the board.

[DJN]

Shares are going to remain in tact here? Anyone think this is a good play?

[mayerxx]

MMs lining up on the bid

[mayerxx]

Slap the ask bid sitters no bids are getting filled

[mayerxx]

1 mil share day could take this to multi pennies

[mayerxx]

Whoever sitting on the bid better move it up. Float is only 14 million shares I don't think anyone's getting filled down here

[mayerxx]

I was in this a while ago at $.05and sold at $.28. Back in now at $.0076 and wait for it to get back to $0.05

[mayerxx]

Big volume today

[BONGO68]

So now wheres the stock headed

[PinkBu]

Yes, we retained ALL our shares for a 100-200% gain after exit from bankruptcy! Not too shabby for only 2 months in Chapter 11 :}

[BONGO68]

Holders retain shares!!!

Ultrapetrol’s Chapter 11 plan approved by court
Ultrapetrol (NASDAQ:ULTR) says its prepackaged Chapter 11 plan has been confirmed by the U.S. bankruptcy court, and expects to emerge from Chapter 11 on March 31.Under the restructuring plan, Sparrow Capital Investments will acquire ULTR’s river business, which includes 685 barges, for $73M, with proceeds earmarked for the holding company’s creditors and used to retire ~$225M in outstanding bond debt.Existing shareholders will retain their ULTR shares, but the company will no longer own any operating businesses. Tue, Mar. 21, 5:55 PM | 2 Comments

[BONGO68]

So ULTR holders Retain Shares!!!!

[BONGO68]

Ultrapetrol’s Chapter 11 plan approved by court
Ultrapetrol (NASDAQ:ULTR) says its prepackaged Chapter 11 plan has been confirmed by the U.S. bankruptcy court, and expects to emerge from Chapter 11 on March 31.Under the restructuring plan, Sparrow Capital Investments will acquire ULTR’s river business, which includes 685 barges, for $73M, with proceeds earmarked for the holding company’s creditors and used to retire ~$225M in outstanding bond debt.Existing shareholders will retain their ULTR shares, but the company will no longer own any operating businesses. Tue, Mar. 21, 5:55 PM | 2 Comments

[BONGO68]

Okay so any chance this stocks comes back?

[Renee]

ULTRQ changed to ULTRF; emerged from bankruptcy:

http://otce.finra.org/DLSymbolNameChanges

[PinkBu]

I don't know about this, but I am curious to see what will happen to shareholders. I may play a little here. The plan states that shareholders are unimpaired, although not receiving distribution, so sounds like we keep our shares after exit from BK (nothing extra). And yes, I have read articles that the company plans to go private... but "after emergence from bankruptcy", and with no specifics. So, how long after bankruptcy?

The plan states:

2. Parent-Included Plan
(a) Class 10 – Equity Interests in Parent.
i. Classification: Class 10 consists of Equity Interests in Parent.

ii. Treatment: In accordance with and giving effect to the provisions of section 1124(1) of the Bankruptcy Code, Equity Interests in Parent are Unimpaired by the Parent-Included Plan and the Parent-Included Plan leaves unaltered the legal, equitable, and contractual rights to which such interest entitles the holder of such interest. No distribution shall be made under the Parent-Included Plan on account of Equity Interests in Parent.

iii. Voting: Class 10 is Unimpaired. Therefore, holders of Class 10 Equity Interests in Parent are not entitled to vote to accept or reject the Parent-Included Plan.

[Renee]

ULTR changed to ULTRQ, bankruptcy:

http://otce.finra.org/DLSymbolNameChanges

[davidsson10]

https://finance.yahoo.com/news/ultrapetrol-bahamas-limited-initiates-prepackaged-123000234.html

" None of the Company’s equity holders will receive any distributions, and the Company expects that shortly after emergence from Chapter 11 it will dissolve and cease to be a reporting public company."

[Vincent1974]

Ultrapetrol (Bahamas) Ltd. Enters Into Restructuring Support Agreement with Certain Lenders to its Offshore Business
NASSAU, Bahamas, January 19, 2017 -- Ultrapetrol (Bahamas) Limited (OTCQB:ULTR) (together with certain of its subsidiaries, the "Company") 1 announced that on January 17, 2017 it and certain of its subsidiaries entered into a Restructuring Support Agreement (the "Offshore Support Agreement") with certain lenders to the Company's offshore business (the "Supporting Lenders"), the agents, facility agents or security agents under the Offshore Loans (as defined below), Southern Cross Latin America Private Equity Fund III, L.P. and Southern Cross Latin America Private Equity Fund IV, L.P. (collectively, "Southern Cross"), Sparrow Capital Investments Ltd. and Sparrow CI Sub Ltd. (collectively, "Sparrow"), Sparrow Offshore Investments Ltd. (together with Southern Cross and Sparrow, the "Southern Cross Supporting Parties"), UABL Limited and Sparrow Offshore Capital Ltd..
The Offshore Support Agreement, which is described in more detail below, provides for an out-of-court restructuring of all loans provided to the Company's offshore subsidiaries by the Supporting Lenders and the Supporting Lenders' agreement with respect to the transactions contemplated by a joint prepackaged plan of reorganization under Chapter 11 of the Bankruptcy Code (the "Plan"), which provides for an implementation of a restructuring of the Company's river business through a voluntary bankruptcy case under the Bankruptcy Code as previously disclosed.  In connection with entering into the Offshore Restructuring Agreement, the Supporting Lenders and the creditors to the Company's river business agreed to a timetable that includes consummation of the Plan on or before March 31, 2017.
The Company is being advised by the investment banking firm of Miller Buckfire & Co. and is receiving financial advice from AlixPartners, LLP.  Zirinsky Law Partners PLLC and Seward & Kissel LLP act as legal counsel to the Company.  Houlihan Lokey Capital, Inc. is acting as financial advisor and White & Case LLP and Watson Farley & Williams LLP act as legal counsel to the Supporting Lenders.
The Support Agreement
The Offshore Support Agreement provides for the out-of-court restructuring and amendment of certain loans made to the Company's offshore subsidiaries by the Supporting Lenders (the "Offshore Loans") through a common terms agreement (the "Offshore Common Terms Agreement") which will amend certain provisions of the Offshore Loans, including but not limited to maturity, interest and certain financial covenants, but will not change the principal amount outstanding under the Offshore Loans.  As a result of the transactions contemplated in the Offshore Support Agreement, the Offshore Lenders will receive additional collateral in the form of, among other things, the platform supply vessel UP OPAL. The Offshore Support Agreement provides further for, among other things, terms for the release, waiver, and discharge by the Supporting Lenders of all their claims against the Company and the Company's river business.  The Offshore Support Agreement will be filed by the Company as an exhibit to its Form 6-K furnished to the SEC and will be available at www.sec.gov . 2
Pursuant to the Offshore Support Agreement, Ultrapetrol will seek confirmation by the Bankruptcy Court of the Parent-Included Plan (as defined in the Plan) if (i) the Offshore Common Terms Agreement is executed no later than January 31, 2017 and (ii) prior to January 31, 2017 the Supporting Lenders have voted their Class 11 Offshore Lender Parent Claims (as defined in the Plan) to accept the Plan.  In such event, in accordance with the terms of, and subject to the conditions contained in, the Offshore Support Agreement, on the date of the Chapter 11 filing, the Company and UABL Limited (Bahamas) will seek Bankruptcy Court approval of their assumption of the Offshore Support Agreement, and will prosecute and support (and the Company will cause its debtor subsidiaries to prosecute and support) the confirmation and consummation of the Parent-Included Plan and will not (and the Company will cause its debtor subsidiaries to not) prosecute the Parent-Excluded Plan. 
1 Capitalized terms not otherwise defined herein have the meaning given to them in the Offshore Support Agreement (as defined below). 
2   All descriptions and summaries of documents herein are qualified in their entirety by reference to the terms and conditions of such documents.  In the event of any inconsistency between the descriptions herein and the terms and conditions of the specified documents, the terms and conditions of the specified documents control as set forth therein.
The Offshore Support Agreement contains certain provisions that give the Supporting Lenders the ability to terminate the Offshore Support Agreement if various conditions are not satisfied, including, without limitation, execution of the Common Terms Agreement by January 31, 2017 and the closing of the Offshore Restructuring on or before March 31, 2017.
In addition, as set forth in the Plan, entry of an order of the Bankruptcy Court approving the Plan Debtors' assumption of the Offshore Support Agreement (and that the Offshore Support Agreement shall not have been terminated and shall be in full force and effect) is an additional condition to confirmation of the Parent-Included Plan, and as an additional condition precedent to the effectiveness of the Parent-Included Plan, all conditions to the completion of the Offshore Business Restructuring and the effectiveness of the documents enumerated in the Pre Offshore Support Agreement, including but not limited to the Common Terms Agreement and the Offshore Administrative Services Agreement (as defined in the Plan) (other than certain conditions that require the Effective Date (as defined in the Plan) to have occurred) shall have been satisfied or shall have been waived by the party entitled to waive them.  The Plan Debtors, however, may waive each of the foregoing additional conditions with the consent each of the Supporting Lenders.
Forward-Looking Language
The forward-looking statements in this release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, our management's examination of historical operating trends, data contained in our records and other data available from third parties. Although we believe that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, we cannot assure you that we will achieve or accomplish these expectations, beliefs or projections.
In addition to these important factors, other important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include future operating or financial results; pending or recent acquisitions, business strategy and expected capital spending or operating expenses, including dry docking and insurance costs; general market conditions and trends, including charter rates, vessel values, and factors affecting vessel supply and demand; our ability to obtain additional financing; our financial condition and liquidity, including our ability to obtain financing in the future to fund capital expenditures, acquisitions and other general corporate activities; our expectations about the availability of vessels to purchase, the time that it may take to construct new vessels, or vessels' useful lives; our dependence upon the abilities and efforts of our management team; changes in governmental rules and regulations or actions taken by regulatory authorities; adverse weather conditions that can affect production of the goods we transport and navigability of the river system; the highly competitive nature of the oceangoing transportation industry; the loss of one or more key customers; fluctuations in foreign exchange rates and devaluations; potential liability from future litigation; and other factors. Please see our filings with the Securities and Exchange Commission for a more complete discussion of these and other risks and uncertainties. 


Ultrapetrol Bahamas Limited (USOTC:ULTR)
Historical Stock Chart

1 Year : From Jan 2016 to Jan 2017

Ultrapetrol Bahamas Limited (USOTC:ULTR)
Intraday Stock Chart

Today : Friday 20 January 2017

ews out,! 6k.

[Billybob_TX]

They are going to file an agreed Ch 11, so...if the commons survive, great, otherwise pffft they go.

The Restructuring Support Agreement provides for the parties' agreement with respect to the transactions contemplated by a joint prepackaged plan of reorganization under Chapter 11 of the Bankruptcy Code (the "Plan"), which provides for an implementation of the Restructuring through a voluntary bankruptcy case under chapter 11 of title 11 of the United States Code and provides a timetable that includes substantial consummation of the Plan on or before February 28, 2017.

[geocam]

$ULTR -- On November 18, 2016, the Issuer and certain of its subsidiaries entered into a restructuring support agreement (the "Restructuring Support Agreement") with certain holders of the Issuer's 8.875% First Preferred Ship Mortgage Notes due 2021, International Finance Corporation, The OPEC Fund for International Development, Fund III, Fund IV, Sparrow and Sparrow 2, which Restructuring Support Agreement is attached hereto as Exhibit I.


Anyone got a legalese decoder ring?


And the 13g is showing 84% of the OS being ... swapped by several entities:


http://ih.advfn.com/p.php?pid=nmona&article=72955963
Sparrow Capital Investments Ltd.
119,266,821
84.7%

Sparrow CI Sub Ltd.
119,266,821
84.7%

Triton Shipping Ltd.
119,266,821
84.7%

Quattro Shipping Holdings Ltd.
119,266,821
84.7%

Southern Cross Latin America Private Equity Fund III, L.P.
119,266,821
84.7%

Southern Cross Capital Partners III, L.P.
119,266,821
84.7%

SC GP Company III
119,266,821
84.7%

Southern Cross Latin America Private Equity Fund IV, L.P.
119,266,821
84.7%

Southern Cross Capital Partners IV, L.P.
119,266,821
84.7%

SC GP Company IV Limited
119,266,821
84.7%


http://ih.advfn.com/p.php?pid=nmona&article=72955963

This Amendment No. 5 to Schedule 13D (" Amendment No. 5 ") relates to the Common Stock, par value $0.01 per share, of Ultrapetrol (Bahamas) Limited, a Bahamas corporation (the " Issuer "), which has its principal executive office at Ocean Centre, Montagu Foreshore, East Bay St., Nassau, Bahamas, P.O. Box SS-19084. This Amendment No. 5 amends and supplements, as set forth below, the Schedule 13D filed by the Reporting Persons with respect to the Issuer on December 20, 2012, Amendment No. 1 thereto filed on June 14, 2013, Amendment No. 2 thereto filed on February 24, 2014, Amendment No. 3 thereto filed on July 15, 2014 and Amendment No. 4 thereto filed on September 8, 2014 (together, the " Schedule 13D "). All capitalized terms not otherwise defined herein have the meanings ascribed to them in the Schedule 13D. Only those items amended are reported herein.

ITEM 3. SOURCE AND AMOUNT OF FUNDS AND OTHER CONSIDERATION

The aggregate purchase price for the proposed acquisition described in Item 4 below (the "River Business Acquisition") by a subsidiary of Sparrow of the Issuer's river business is $73,000,000.

Sparrow is considering various sources of funds for the River Business Acquisition reported herein, including funds acquired through capital contributions from its shareholders and/or borrowed funds. Such funds might be provided from general funds available to the Reporting Persons and the applicable subsidiaries and affiliates thereof, including through capital contributions made by their partners.

http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11699274

On November 18, 2016, the Issuer and certain of its subsidiaries entered into a restructuring support agreement (the "Restructuring Support Agreement") with certain holders of the Issuer's 8.875% First Preferred Ship Mortgage Notes due 2021, International Finance Corporation, The OPEC Fund for International Development, Fund III, Fund IV, Sparrow and Sparrow 2, which Restructuring Support Agreement is attached hereto as Exhibit I. The Restructuring Support Agreement sets forth the terms and conditions of the restructuring of the debt and capital structure of the Issuer's river business and related financial obligations (the "Restructuring").

The Restructuring Support Agreement provides for the parties' agreement with respect to the transactions contemplated by a joint prepackaged plan of reorganization under Chapter 11 of the Bankruptcy Code (the "Plan"), which provides for an implementation of the Restructuring through a voluntary bankruptcy case under chapter 11 of title 11 of the United States Code and provides a timetable that includes substantial consummation of the Plan on or before February 28, 2017.

Subject to the terms and conditions of the Restructuring Support Agreement, a subsidiary of Sparrow will purchase the Issuer's river business for $73,000,000 in cash, which cash would be used to retire the Issuer's 8.875% First Preferred Ship Mortgage Notes due 2021 and to purchase the outstanding credit facilities with the International Finance Corporation and the OPEC Fund for International Development.

In addition to the Restructuring, the Issuer is in negotiations with lenders to its offshore business and an affiliate of Sparrow with respect to the terms and conditions of an out-of-court restructuring of the loans to the offshore business.

The terms and conditions of the Restructuring Support Agreement are described in further detail in Exhibit 99.1 of the Form 6-K of the Issuer filed on November 18, 2016 with the Securities and Exchange Commission and which is hereby incorporated by reference herein.

[luvpink]

link ? ty.

[remind2]

ULTR: Update out. Great deal for shareholders. Wow

[subslover]

$ULTR Looking very sweet again today!

[Andco]

Avg .23. Shippers not done yet.

[subslover]

Several more buyers showing up today. Nice to see you here!

[Mean Weimaraner]

Yes

[rnoutlaw21]

In at .21 today. Gltu

[pj McMulligan]

Loaded up with this cool chart in the carrier sector. Anyone else here buying today?

[rnoutlaw21]

Large bid at .21 let's get up over .30!

[subslover]

$ULTR Another good day on the way. Stay tuned.

[subslover]

$ULTR stock explosion!

[FergusVI]

could move

[willlbone]

Bought 5 and up large.

[Renee]

ULTR delisted from the Nasdaq to the OTC, effective now.

http://otce.finra.org/DLAdditions

[willlbone]

Sorry wrong stock. (MJTKD)

[willlbone]

Reverse split, CEO replaced and
most marijuana stocks are just a pipe dream.

[G3TCRUNK3R]

.01 on the bid less than 5 minutes after closing.
done.

[willlbone]

Wiped out by hurricane?

[willlbone]

Year low is 5 cents.
Going to test that low.

[Stock8049]

Pink sheet soon

[stocktrademan]

ULTR bullish 0.3501

close crossup ema8 t-line scan

[Stock8049]

Earning is bad; delisted soon; reverse split soon

[stocktrademan]

ULTR bullish 0.34

[TrendTrade2016]

Yes this one could very well go into chapter 11.
It's one of the shipping plays to stay away from outside of a chart play. It had some good signs along with the sector moving. But I see this possibility as the next prgn

GLTA
Trendtrade2016

[TrendTrade2016]

Yes this one could very well go into chapter 11.
It's one of the shipping plays to stay away from outside of a chart play. It had some good signs along with the sector moving. But I see this possibility as the next prgn

GLTA
Trendtrade2016

[doglover1]

Got in at .375 and HOPE to get out tomorrow at .35, or lower if I have to. Bought a ton, so the loss of just a few cents a share is going to add up. Better to get out now than be out .10 or more just a little ways down the road.

Should have checked this one out a little better. Got in because of the $2.02 book value, but the more I look at this I think it's a cooked number. Their debt is all short term and note and bondholders aren't going to let them off the hook month after month as they've been doing forever. This looks like it has one foot in bankruptcy and the other foot on a banana peeling.

And don't want to spend another $20 with Scottrade for a reverse split 'reorganization fee' or whatever they call it. I know it's not much money, but I just HATE that charge. They push a couple keys on a keypad and charge you $20.

There's actually a few profitable shippers in this industry. Will put the money in one of them. One actually pays a dividend. OSB, I believe.

[TrendTrade2016]

This shipper could not get earnings out. Not looking good here. Is BK around the corner or just the R/S.

GLTA
Trendtrade2016

[Stock8049]

Earning delay...

[TrendTrade2016]

its being talked about behind the scenes. we are in the biggest R/S epidemic and this will have to split, there's just no other way unfortunately. A lot of the shippers have already split so its just a matter of time for this one. It will be a good post split play down the road. See what earnings brings on wed. If they are bad it can get worst for this one. A lot of dilution as well so they need to reduce shares to make it appealing again.ULTR pounded the shareholder with much larger convertible notes $220 million then 80Million convertible bonds when trading on the NYSE now transferred to NASDAQ. Look at the CMf, a lot of dilution showing on that indicator

GLTA
trendtrade2016