Essentially saying that the time period specified by the Hart Scott Rodino Act had expired without action by the FTC, which would imply that the FTC doesn't see any antitrust problem with the merger.
markbuti, this is amendment #6 to BlackRock's 13G filings on SPPI. If you look back to amendment #5, filed on Jan 10, 2014, you'll see that at that time they had:
9) Aggregate amount beneficially owned by each reporting person
(11) Percent of class represented by amount in Row 9
So, they've added around 1.55M shares in almost exactly 1 year. Not exactly a small amount, especially considering the other big holders, but not 3M shares in 3 months. Regardless, a big add on BlackRock's part. I recently doubled, then tripled down on my SPPI holdings with proceeds from AVNR & ARNA. I'm content to wait in the background until this one plays out.
glta SPPI longs.
The Gladys well which has been on free flow for four months has had an electrical submersible pump
(ESP) installed and the well has responded with two days of daily oil production exceeding 950
BOPD. While this is early in terms of establishing a stable production rate, the initial production rate from this
ESP configuration is very encouraging. Gladys has produced 34,721 BBLs on free flow and was a
modest producer - however the installation of the ESP may change that perception based on the early
response of the well to artificial lift.
Given that the drilling program has been curtailed, the North Stockyard field is being returned to full
production, and, as of this report date, 11 wells are on stream. The remaining 13 wells are expected to
be back on line by the end of February.
great dd, markb, but I think you're missing Barclays Global Investors NA from that list. For whatever reason, the NAZ site continues to list that one separately, when it was taken over by BlackRock back at the end of 2009. You'll find the 1,966,696 shares that NAZ lists under Barclays in the BlackRock Institutional Trust Company, N.A. 13F-HR filing. I've noticed this discrepancy in BlackRock holdings on several other stocks I hold. BlackRock is so enormous, it's hard enough to track their holdings. They filed something like 191 13G's on Jan 9, reflecting the fact that they hold large positions in quite a few stocks. It's great to see them with such a big chunk of SPPI shares.
Wellington is out with an amended 13G filing tonight showing holdings of 4,959,517 SONS shares, which equates to just over 10% of shares o/s.
Their 13G, filed today, shows holdings of 21,805,948 shares of SONS as of 12/31/14 or 8.82% of shares outstanding. We've since had the 1-for-5 reverse split, so that equates to 4,361,189 of the new shares. As of 9/30/14, Wellington had 2,531,328 split-adjusted shares, so it looks as if they bought 1,829,861SONS split-adjusted shares in Q4 (I make that a buy of 9,149,308 pre-split shares). If my figures are correct, that would make Wellington the biggest 'tute holder of SONS shares.
I had a sell order in this morning at $1.84 for the shares I bought @ 70 cents, but I chickened out and dropped it to $1.73 where it filled. I see the pps did hit 1.84, though. LOL
Next up, the shares I bought at 91 cents. Now where was that guy who made fun of those buys I made back in mid-Dec??
As a result of these operational constraints, during the quarter only 820 “well days” of the available
2,208 “well days” were on production during the quarter.
Samson has curtailed its development drilling program in the North Stockyard field after the completion
of the Ironbank 6 well. The Frontier 24 rig was laid do
wn without contractual penalty.
The Company’s G&A cost was reduced by 43% from US $3.3million expensed for the six months to
31December 2013, to US $2.3million for the corresponding period in 2014. Further reductions in this
expense are expected to be finalized in the first quarter of 2015 in response to the recent slide in the oil
On 03/19/2015, they bought 497 shares at a price of $3.68.
On 03/20/2015, they bought 128,553 shares at an average price of $3.6997.
That bring the total of their direct holdings to 2,427,906 shares.
The 128,553-share buy on Friday confirms my suspicion that they were in the market for more than their usual amount. Today's volume and bump in price make me think they were at it again today, and if so, we should see an amended 13D filing very soon laying out the group's total position - I think it's somewhere around 35% of shares outstanding.
On 03/09/2015, they purchased 42,652 MLNK shares at a price of $3.66 per share.
On 03/10/2015, they purchased 42,652 @ an average of price of $3.5378.
That brings their direct holdings as of yesterday to 2,070,928 MLNK shares.
Interesting that they bought the exact same amount of shares on Mon. & Tues. Also interesting that they seem 2b able to continue to buy shares without causing an appreciable bump up in the share price. On this occasion, they were aided by the "timely" announcement of a shelf offering, as that almost always puts downward pressure on share prices.
I just took a quick look back through the last several earnings reports, and in general, MLNK reports after the market close, so I guess we should be looking for something tomorrow, though I probably won't be back from the latest in what seems like an endless series of doctors' appointments. I'm looking forward to picking through their 10Q for any small scraps of information.
Share price tanked right about the time the SEC published it (1:41).
Here's a clip:
Use of Proceeds
Unless otherwise indicated in any applicable prospectus supplement, the net proceeds from any sale of securities by us will be used for general corporate purposes, which may include potential acquisitions and other strategic business opportunities. No material acquisitions are probable at this time. If we decide to use the net proceeds from a particular offering of securities for a specific purpose other than as set forth above, we will describe that in the related prospectus supplement. In the case of a sale of common stock by the selling stockholder, we will not receive any of the proceeds from such sale. We will receive proceeds from the exercise of warrants by the selling stockholder.
Pretty much exactly what they've said all along - boilerplate language, but why raise this kind of money if you're NOT going to do a deal??
On 03/05/2015, they bought 46,354 MLNK shares at an average price of $3.695.
On 03/06/2015, they bought 273,300 MLNK shares @ an average price of $3.74.
That brings their total direct holdings (as of 3/6) to 1,985,624 shares, as reported earlier in the 13D/A filing. It will be interesting to see if H&H continues to accumulate shares this week.
H&H filed an amended Form 13-D tonight detailing their MLNK holdings. At the bottom of the form, they listed more buys they had made in the past 3 days:
37,884 shares @ $3.5999 on 01/05/15
40,049 shares @ $3.5834 on 01/06/15
10,600 shares @ $3.5968 on 01/07/15
H&H now claims direct ownership of 563,838 shares. All told the filing shows that H&H, Steel, WHX, and related parties:
"This statement reports an aggregate of 16,700,879 Shares, including 2,000,000 Shares underlying currently exercisable Warrants, beneficially owned by the Reporting Persons, constituting approximately 30.9% of the Shares outstanding."
Looking at the recent H&H purchases, I'm struck by their ability to keep their buys under the $3.60 mark. At some point one would think that the supply of cheaper shares would dry up forcing the share price to rise a bit.
FMR's 9/30 filing showed them owning 20,247,571 AVNR shares, so they could have tendered 15+M shares, or sold them on the open market.
fideelstaf, my guess is that by purchasing relatively small numbers of shares as they're doing is keeping their accumulation from putting too much upward pressure on the share price. Since Nov 17, when they first started buying, they've managed to buy over 1.6M shares. It has somewhat the feel of a slow-motion takeover, but I think the group will limit their share buys to avoid problems with the "change of ownership" provisions on the rules for utilizing net operating loss carryforwards. Still, I think they could buy several million more shares without triggering that.
Also, during their recent spurt when they've bought pretty much every day, there were shares which were accumulated during the reverse/forward split which probably increased the supply (putting downward pressure on the ask price), so they were opportunistic in taking advantage of that. Because of the wording of Section 382 of the IRS code on NOL's, I believe that they are also able to buy more shares because of a 3-year holding period which I believe has now passed.
I keep thinking that events are pointing to a move on their part sometime soon, but I've been thinking that for a while now with nothing happening (though I'm betting there is activity behind the scenes).