|Over a quarter ago|
FTS International files to sell 1.78M shares of Class A common stock for holders 08:3412/2312/23/20
Fly Insider: Merrimack, Catalent among weeks notable insider trades » 16:5511/3011/30/20
BLFS, UEPS, MACK, FTSI, COTY, CTLT, TCS, CG, PLTR
Welcome to "Fly Insider,"…
Seven new option listings and six option delistings on November 23rd » 08:3011/2311/23/20
BRP, BUR, GPP, IEA, ZDGE, FTSI
New option listings for…
New option listings for November 23rd include BRP Group Inc (Class A Stock) (BRP), Burford Capital Limited (BUR), Green Plains Partners (GPP), Infrastructure and Energy Alternatives Inc (IEA), Advisorshares Pure Us Cannabis Etf (MSOS), Cambria Tail Risk ETF (TAIL), and Zedge (ZDGE). Option delistings effective November 23rd include California Resources Corporation (CRCQQ), FTS International (FTSI), Global Eagle Entertainment Inc (GEENQ), GNC Holdings Inc (Class A Stock) (GNCIQ), Direxion Japan Bull (JPNL), and Libbey Inc (LBYYQ).
FTS International trading resumes 15:1511/1911/19/20
FTS International successfully emerges from Chapter 11 bankruptcy » 14:5111/1911/19/20
FTS International announced that it has successfully completed its fully consensual financial restructuring and has emerged from Chapter 11. Michael Doss, CEO, commented, "Today is an important day for FTSI. We have quickly and efficiently completed our financial restructuring and emerge with sufficient cash and revolving credit capacity to deploy stacked fleets, invest in new technology, rebuild working capital and create long-term value for our stakeholders." Upon emergence, FTSI expects to have approximately $90M cash on hand and has entered into a new $40M asset-based revolving credit facility with Wells Fargo Bank, as administrative agent and lender, to support working capital needs.
FTS International trading halted, news pending 14:4111/1911/19/20
FTS International announces successful confirmation of reorganization plan » 17:0611/0511/05/20
FTS International announced that the U.S. Bankruptcy Court for the Southern District of Texas, Houston Division has confirmed its Prepackaged Plan of Reorganization. Under the terms of the Confirmed Plan, which was approved at a hearing on November 4, 2020, the Company accomplished the elimination of all of its prepetition funded debt, approximately $437 million. Importantly, the Confirmed Plan ensures that the Company's vendors, suppliers, and customers will remain unaffected by the reorganization. The Company's existing equity holders will also receive a recovery under the Confirmed Plan. Additionally, on November 3, 2020, the Company settled its dispute with Covia Holdings Corporation. "I am pleased to have reached an agreement with all parties involved and look forward to emerging from Chapter 11 in the next couple of weeks," said Michael Doss, Chief Executive Officer of FTSI. "The overwhelming support by all parties involved and confirmation by the court will allow FTSI to emerge from the process debt-free and in an ideal position to navigate the current environment and take advantage of future opportunities. I appreciate our customers, our vendors, and our employees for working through this process with us and am excited that FTSI will be better positioned than ever before and continue being a leader in the well completions space."
FTS International trading resumes 11:0008/2408/24/20
FTS International announces agreement with majority of secured debtholders » 09:0608/2408/24/20
FTS International said in…
FTS International said in a release, "FTS International announced that it has entered into a restructuring support agreement with approximately 75 percent of the holders of the Company's 6.250% senior secured notes due 2022 and approximately 64 percent of the Company's secured debt claims. The Agreement outlines a comprehensive restructuring that will deleverage the Company's balance sheet by $437.3 million and provide it with the financial flexibility to deliver results-oriented and innovative well completion solutions to its customers. Importantly, the Agreement contemplates that the Company's vendors, suppliers, and customers will remain unaffected by the transaction."
FTS International trading halted, news pending 08:2408/2408/24/20