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EAGL

Platinum Eagle Acquisition Corp.

$9.90

0.03 (0.30%)

18:29
11/13/18
11/13
18:29
11/13/18
18:29

Platinum Eagle Acquisition Corp to merge with Target Logistics Management

Platinum Eagle Acquisition, Target Logistics Management, and RL Signor Holdings, LLC announced that the companies have entered into definitive merger agreements for a business combination transaction to create the largest provider of specialty rental accommodations with premium catering and value-add hospitality services in the U.S. The combined company will be well-positioned to capitalize on strong demand drivers for fully-integrated accommodation, hospitality and culinary solutions across a range of geographic and sector end markets. Under the terms of the business combination agreement, Target Lodging and Signor Lodging will become wholly-owned subsidiaries of Platinum Eagle. Immediately following the closing of the proposed transactions, Platinum Eagle intends to change its name to Target Hospitality Corp. and remain Nasdaq-listed under a new ticker symbol. The transaction reflects an initial enterprise valuation for the combined entity of $1.40B, representing a fully diluted multiple, including transaction expenses, of approximately 8.4x estimated 2019 pro forma Adjusted EBITDA. The cash component of the purchase price to be paid to the equity holders of Target Lodging will be funded by Platinum Eagle's cash in trust, which is approximately $325 million, secured commitments for a $80 million common stock private placement at $10.00 per share from large institutional investors, including funds and accounts managed by investment advisor subsidiaries of Blackrock, Inc., and newly raised debt financing. The balance of the purchase price for Target Lodging will be paid in common equity of Platinum Eagle. TDR Capital will be contributing Signor Lodging in exchange for common equity of Platinum Eagle.

TODAY'S FREE FLY STORIES

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12/19/18
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General news
U.S. existing home sales were stronger than expected in November »

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COP

ConocoPhillips

$62.73

0.81 (1.31%)

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MHK

Mohawk

$123.49

5 (4.22%)

10:45
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VMW

VMware

$158.32

3.66 (2.37%)

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  • 10

    Jan

CI

Cigna

$192.93

0.83 (0.43%)

, ESRX

Express Scripts

$95.33

0.31 (0.33%)

10:44
12/19/18
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Hot Stocks
Cigna, Express Scripts receive approval from state of NJ for merger transaction »

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CI

Cigna

$192.93

0.83 (0.43%)

ESRX

Express Scripts

$95.33

0.31 (0.33%)

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  • 10

    Jan

GM

General Motors

$35.68

0.77 (2.21%)

10:40
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Far upside call buyer in GM »

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CMD

Cantel Medical

$75.82

-0.35 (-0.46%)

10:37
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Cantel Medical raises semiannual dividend 17.6% to 10c per share »

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  • 19

    Dec

SPX

S&P 500

$0.00

(0.00%)

, SPY

SPDR S&P 500 ETF Trust

$257.42

2.33 (0.91%)

10:32
12/19/18
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10:32
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10:32
Periodicals
Senate to introduce short-term measure to avoid government shutdown, CNBC says »

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SPX

S&P 500

$0.00

(0.00%)

SPY

SPDR S&P 500 ETF Trust

$257.42

2.33 (0.91%)

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10:31
12/19/18
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10:31
General news
Crude inventories for week of December 14 »

Crude oil inventories…

ABX

Barrick Gold

$13.82

-0.07 (-0.50%)

10:30
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Options
Heavy volume in Barrick Gold downside Jan puts »

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JKS

JinkoSolar

$10.99

-0.05 (-0.45%)

10:29
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10:29
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Initiation
JinkoSolar initiated  »

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  • 23

    Dec

10:25
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General news
Treasury Action: flattening is the trade ahead of the FOMC »

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10:25
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Conference/Events
UBS alternative energy analyst to hold an analyst/industry conference call »

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UBS retail analyst to hold an analyst/industry conference call »

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FX Action: The dollar »

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SPY

SPDR S&P 500 ETF Trust

$257.02

1.93 (0.76%)

10:20
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10:20
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Treasury Action: yields remained pinned lower »

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ULTA

Ulta Beauty

$245.00

4.07 (1.69%)

, MTCH

Match Group

$42.58

0.6 (1.43%)

10:19
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Initiation
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ULTA

Ulta Beauty

$245.00

4.07 (1.69%)

MTCH

Match Group

$42.58

0.6 (1.43%)

SSTI

ShotSpotter

$30.30

1.12 (3.84%)

OKTA

Okta

$66.09

3.32 (5.29%)

CLLS

Cellectis

$18.35

0.6 (3.38%)

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  • 08

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  • 16

    Jan

ALKS

Alkermes

$31.58

-0.25 (-0.79%)

, ADI

Analog Devices

$87.50

-0.57 (-0.65%)

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ADI

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UAA

Under Armour

$18.63

-0.18 (-0.96%)

UA

Under Armour

$17.21

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MU

Micron

$33.30

-0.82 (-2.40%)

JPM

JPMorgan

$99.31

0.79 (0.80%)

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  • 07

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MDT

Medtronic

$92.20

0.18 (0.20%)

, MASI

Masimo

$106.37

1.08 (1.03%)

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Medtronic

$92.20

0.18 (0.20%)

MASI

Masimo

$106.37

1.08 (1.03%)

DRI

Darden

$103.74

-0.08 (-0.08%)

BBY

Best Buy

$52.56

0.57 (1.10%)

GE

General Electric

$7.78

0.505 (6.95%)

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  • 27

    Jan

$NSD

NASDAQ Market Internals

$0.00

(0.00%)

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Technical Analysis
NASDAQ market internals summary »

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$NYE

NYSE Market Internals

$0.00

(0.00%)

10:16
12/19/18
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Technical Analysis
NYSE market internals summary »

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10:15
12/19/18
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10:15
General news
U.S. existing home sales rose 1.9% to 5.320 M in November »

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10:15
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General news
Breaking General news story  »

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XLU

Utilities SPDR

$54.42

-0.21 (-0.38%)

10:10
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Options
18.8K SPDR Utility Fund Dec 51 - 53 put spreads trade 12c »

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