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Magnum Hunter Resources Corp. Message Board

  • fastball.98mph fastball.98mph Apr 5, 2014 12:09 PM Flag

    Yahoo message board brain drain.

     

    I've now posted twice on this recent registration rights offering and yahoo deleted. I suppose Yahoo wants to segment the user base for advertisers of soda, candy, video games, and paycheck cashing.

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    • Good Point fastball...Is this what you meant?
      .

      I was hoping you could explain this registration rights agreement. If you noticed MHR didn't sell 4.3 million shares directly. The shares were sold to institutions by three hedge funds that owned MHR shares. I believe that this transaction was used to avoid certain filings and avoid giving rights offering to all shareholders. But this transaction has me stumped...I'm assuming MHR is getting gross $30mil, for $7 per share, which the institutions are paying. And the hedge funds are guaranteed the difference between what the market price was at the time and the price sold...MHR basically sold a call on its shares at $7 (collecting premium) and hedge funds are guaranteed the market price at the time plus all the upside, if there is any? While its small in size, it does however highlight the current cost of equity capital. Less

 
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