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Halcón Resources Corporatio Message Board

  • delphioracle2009 delphioracle2009 Sep 27, 2013 4:41 PM Flag

    Petro-Hunt Holdings, files S-3 for the shares they have, with no plans of selling

    Petro-Hunt Holdings, that got 103.7 million of shares of HK as part of acquisition by HK has filed S-3 and mentions that they have no plans of selling those shares ...

    As per December 11, 2012 Form-8K ... Item 2.01 Completion of Acquisition or Disposition of Assets.

    On December 6, 2012, Halcon completed the Williston Basin Transaction, thereby acquiring the Williston Subs, which own, in the aggregate, a total of approximately 81,000 net acres prospective for the Bakken and Three Forks formations primarily located in Williams, Mountrail, McKenzie and Dunn Counties, North Dakota (the "Williston Basin Assets"). Halcon acquired the Williston Subs for a total adjusted purchase price of approximately $1.57 billion, consisting of approximately $756.1 million in cash and approximately $810.1 million in newly issued shares of Halcon preferred stock that will automatically convert into 108,800,993 shares of Halcon common stock (equivalent to a conversion price of approximately $7.45 per share), following stockholder approval of such conversion and an amendment to Halcon's certificate of incorporation to increase the number of shares of common stock that Halcon is authorized to issue.

    The shares of preferred stock were issued to the Petro-Hunt Parties in a private placement pursuant to the exemptions from registration provided in Regulation D, Rule 506, under Section 4(2) of the Securities Act of 1933, as amended (the "Securities Act").

    Shorts that have been eagerly shorting down HK is going to be disappointed that those shares aren't going to be available ...

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