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July 18, 2019 Emerge Energy Services LP (OTC:EMESZ) together with its subsidiaries and certain affiliates (the "Company") today announced that the Company has voluntarily filed for relief under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware on July 15, 2019. The case is being jointly administered under Emerge Energy Services LP et al Case Number: 19-11563.
NYSE Regulation reached its decision to delist the common units pursuant to Section 802.01B of the NYSE`s Listed Company Manual because the Partnership has not satisfied the NYSE`s continued listing standard requiring listed companies to maintain an average global market capitalization over a consecutive 30 trading day period of at least $15,000,000. The NYSE will apply to the Securities and Exchange Commission to delist the common units upon completion of all applicable procedures, The Partnership does not intend to appeal the determination and, therefore, it is expected that the common units will be delisted.
May 23, 2019 - Emerge Energy Services LP (EMES) (the "Partnership") today announced that it received an expected notification from the New York Stock Exchange ("NYSE") on May 17, 2019 that the Partnership is no longer in compliance with NYSE continued listing criteria that require listed companies to maintain an average closing share price of at least $1.00 over a consecutive 30 trading-day period. In accordance with NYSE rules, the Partnership has a period of six months from receipt of the notice to regain compliance with the NYSE`s minimum share price requirement, with the possibility of extension at the discretion of the NYSE.
NEW YORK, NY / ACCESSWIRE / April 30, 2019 / Traders News Source, a leading independent equity researchand corporate access firm focused on small and mid-cap public companies is issuing a comprehensive report on Emerge Energy Services LP (EMES) who, through its subsidiary, Superior Silica Sands LLC, operates an energy services company. It engages in mining, producing, and distributing silica sand, which is a primary input for the hydraulic fracturing of oil and natural gas wells. As set forth in the agreement, the parties have agreed to the principal terms of a proposed financial restructuring of Emerge Energy, which will be implemented through an out-of-court restructuring.
April 22, 2019 - Emerge Energy Services LP (EMES) (the "Partnership") today announced that it has entered into a restructuring support agreement (the "RSA") with its operating subsidiary Superior Silica Sands LLC ("SSS") and the Partnership`s other subsidiaries (together with the Partnership and SSS, "Emerge Energy"), its general partner ("Emerge GP"), certain direct and indirect equity holders of Emerge GP, the lenders under Emerge Energy`s revolving credit facility, and the noteholders under Emerge Energy`s second lien note purchase agreement (the noteholders, together with the lenders under the revolving credit facility, the "Consenting Creditors"). As set forth in the RSA, the parties thereto have agreed to the principal terms of a proposed financial restructuring of Emerge Energy (the "Transaction"), which will be implemented through an out-of-court restructuring or, in the event that the special restructuring committee of the board of directors of Emerge GP (the "Committee") determines in good faith that the out-of-court restructuring is no longer reasonably possible or in the best interests of Emerge Energy and its stakeholders, an in-court reorganization implemented in one or more cases filed under Title 11 of the United States Code.
In accordance with NYSE rules, Emerge Energy has contacted the NYSE to discuss the status of the late filing and is issuing this required press release. The NYSE informed Emerge Energy that, under NYSE rules, Emerge Energy will have six months from the Form 10-K due date of March 18, 2019 to file the 2018 Form 10-K with the SEC. Emerge Energy can regain compliance with the NYSE listing standards at any time prior to that date by filing its 2018 Form 10-K. If Emerge Energy fails to file the 2018 Form 10-K before the NYSE may grant, at its sole discretion, an extension of up to six additional months for Emerge Energy to regain compliance, depending on the specific circumstances.
Fort Worth, Texas - March 14, 2019 - Emerge Energy Services LP ("Emerge Energy") today announced that it has completed the 2018 tax packages for its unitholders, including Schedule K-1s. These ...