|Bid||0.0000 x 0|
|Ask||0.0000 x 0|
|Day's Range||0.1400 - 0.1400|
|52 Week Range||0.1400 - 0.1400|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Earnings Date||Oct 31, 2018 - Oct 31, 2018|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Jones Energy, Inc. (OTC Pink: JEII) (“Jones Energy” or the “Company”) today announced that it is emerging from bankruptcy. The Company emerges following satisfaction of all of the conditions to effectiveness under the Company’s prepackaged chapter 11 plan (the “Plan”), previously confirmed by the United States Bankruptcy Court for the Southern District of Texas (the “Court”) less than two weeks ago on May 6, 2019. The Plan fully equitizes the Company’s outstanding prepetition funded debt, authorizes the incurrence of an exit facility, and fully satisfies all trade, customer, employee, royalty, working, and other mineral interest claims without interruption in the ordinary course of business.
Jones Energy, Inc. (OTC Pink: JONEQ) (“Jones Energy” or the “Company”) today announced that the United States Bankruptcy Court for the Southern District of Texas, Houston Division (the “Court”), confirmed the prepackaged Joint Chapter 11 Plan of Reorganization of Jones Energy, Inc. and its Debtor Affiliates (the “Plan”). The Plan enjoys the overwhelming support of the Company’s stakeholders, and the Company expects to complete its restructuring and successfully emerge from chapter 11 on May 17, 2019.
Moody's Investors Service ("Moody's") downgraded Jones Energy Holdings, LLC's (Jones) Probability of Default Rating to D-PD from Ca-PD. The downgrade was prompted by Jones' filing for reorganization under Chapter 11 of the US Bankruptcy Code with the U.S. Bankruptcy Court for the Southern District of Texas on April 14, 2019. Moody's affirmed Jones' all other ratings, including the Ca Corporate Family Rating (CFR), Caa2 senior secured first lien notes rating, and C unsecured notes rating.
Jones Energy, Inc. (JONE) (“Jones Energy” or the “Company”) today announced that the Company, consistent with its prior announcement on April 3, 2019 regarding the Company’s entry into a comprehensive Restructuring Support Agreement with its First Lien and Unsecured Noteholders, voluntarily filed petitions for relief under chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of Texas, Houston Division (the “Court”). On April 14, 2019, the Company filed a pre-packaged chapter 11 plan of reorganization (the “Plan”), which if approved, will fully equitize the Company’s outstanding prepetition funded debt, authorize incurrence of a fully committed exit facility, and satisfy all trade, customer, employee, and royalty claims in full in the ordinary course of business and without change or interruption to its normal payments process.
Jones Energy, Inc. (JONE) (“Jones Energy” or “the Company”) today announced that, after engaging in extensive, arm’s-length, good-faith negotiations, it and holders of approximately 84% in principal of the First Lien Notes and approximately 84% in principal of the Unsecured Notes entered into a restructuring support agreement (the “RSA”) on April 2, 2019 that contemplates a comprehensive balance sheet restructuring to be implemented through a prepackaged chapter 11 plan of reorganization1 (the “Plan”). The parties to the RSA include, among others: (i) Jones Energy, represented by Kirkland & Ellis LLP and Jackson Walker LLP, (ii) an ad hoc group of holders of First Lien Notes, represented by Milbank LLP (the “First Lien Ad Hoc Group”), and (iii) an ad hoc group of holders of First Lien Notes and Unsecured Notes, represented by Davis Polk & Wardwell LLP (the “Crossover Group”).
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