Seventy Seven Energy Inc. (fka SVNT)

[Mcgill]

This news is beyond awesome:

The warrants that will be provided in exchange for the 2022 Notes and to the existing common stockholders will be exercisable at any time until their expiration date. The 2022 Warrants will be exercisable for a per share price based upon a total equity value of $524 million and will expire 5 years from the effective date of the reorganization, subject to the earlier expiration upon the occurrence of certain extraordinary events. The two series of warrants that may be provided to existing common stockholders will be exercisable at share prices based on total equity values of $1.788 billion and $2.5 billion and will expire 5 years and 7 years, respectively, from the effective date, subject to earlier expiration upon the occurrence of certain extraordinary events.