|Bid||0.0000 x 800|
|Ask||0.0000 x 1100|
|Day's Range||30.8000 - 31.8200|
|52 Week Range||24.6000 - 39.2800|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||-0.00|
|Earnings Date||Mar 11, 2019 - Mar 15, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||36.83|
Moody's Investors Service ("Moody's") has withdrawn all assigned ratings for Resolute Energy Corporation (REN) including the B3 Corporate Family Rating (CFR), following Cimarex Energy Co.'s (Cimarex, Baa3 stable) announcement of completing the acquisition of REN and concurrently depositing funds sufficient to redeem any $600 million 8.50% senior notes of REN outstanding on April 1, 2019. The company's operations are focused in Reeves County, Texas within the Permian Basin.
Moody's Investors Service, ("Moody's") assigned a Baa3 rating to Cimarex Energy Co.'s (Cimarex) proposed issuance of $500 million senior unsecured notes due 2029. The Baa3 rating on Cimarex's existing unsecured notes is unchanged. Cimarex will use a portion of the proceeds from the notes issuance to repay borrowings under the company's revolving credit facility and the remainder for general corporate purposes.
Resolute stockholders were able to elect to receive all cash, all stock or a combination of the two, subject to proration, so that the aggregate merger consideration consisted of no more than 60 percent shares of Cimarex Common Stock and 40 percent cash, based on the closing sale price for shares of Cimarex Common Stock on November 16, 2018. Following proration, Cimarex issued approximately 5.7 million shares of Cimarex Common Stock and paid $325.6 million in cash to former holders of Resolute Common Stock and Resolute Equity Awards. At closing the total amount of funds necessary to pay the cash portion of the merger consideration, pay transaction fees and expenses and repay in full the amount outstanding under Resolute's revolving credit facility was approximately $615 million, which Cimarex funded with cash on hand. In connection with the merger and concurrently with the closing, Cimarex also deposited funds sufficient to redeem any $600 million 8.50% Senior Notes of Resolute outstanding on April 1, 2019, using cash on hand and borrowings under Cimarex's revolving credit facility, satisfying and discharging the indenture governing the 8.50% Senior Notes. As of March 1, 2019, we had $525 million in borrowings outstanding under our revolving credit facility, leaving an unused borrowing availability of $722.5 million.
15,950,431 shares voted in favor of the proposal to adopt the merger agreement. This represents approximately 85% of the total shares of Resolute’s common stock represented and entitled to vote at the special meeting, and more than 99% of the votes cast, excluding those stockholders who abstained from voting on the merger proposal. Resolute will file the final vote results with the Securities and Exchange Commission on a Form 8-K. As previously announced, on November 18, 2018, Resolute and Cimarex entered into the merger agreement by which Cimarex will acquire Resolute in a cash and stock transaction.
Dozens of Denver workers are being laid off as two locally headquartered oil and gas companies combine in a $1.6 billion deal. Resolute Energy Corp. will cut 57 positions March 1 as a result of the company’s pending merger into Denver-based Cimarex Energy Co. Resolute Natural Resources Co., a business of Resolute Energy (NYSE: REN), said in a filing to Colorado Department of Labor and Employment that the downsizing is cutting 80 percent of its 71-person headquarters staff, including CEO Richard Betz. Cimarex Energy inked a cash and stock deal in November to buy Resolute, an acquisition that expands Cimarex’s oil and gas operations and untapped reserves in the Delaware Basin in West Texas.
Accordingly, an election will be valid only if a properly completed and signed election form, together with all required documents and materials set forth in the election form and the instructions thereto, is received by the exchange agent, Continental Stock Transfer & Trust Company, before 5:00 p.m. Eastern time on February 22, 2019. Holders of Resolute equity awards and stockholders who hold their shares through a bank, broker or other nominee may be subject to an earlier deadline and should carefully read the instructions from Resolute or their bank, broker or nominee, respectively, regarding making elections. The election form was sent to Resolute stockholders and Resolute equity award holders on or about January 31, 2019. You may contact Continental Stock Transfer & Trust Company directly with any questions at (917) 262-2378 or via email at firstname.lastname@example.org.
NEW YORK, Feb. 4, 2019 /PRNewswire/ -- Notice is hereby given that Faruqi & Faruqi, LLP has filed a class action lawsuit in the United States District Court for the District of Delaware, case No. 1:19-cv-00077, on behalf of shareholders of Resolute Energy Corporation ("Resolute" or the "Company") (REN) who have been harmed by Resolute's and its board of directors' (the "Board") alleged violations of Sections 14(a) and 20(a) of the Securities Exchange Act of 1934 (the "Exchange Act") in connection with the proposed merger of the Company with Cimarex Energy Company ("Cimarex").
NEW YORK, Jan. 24, 2019 -- In new independent research reports released early this morning, Fundamental Markets released its latest key findings for all current investors,.
NEW YORK, NY / ACCESSWIRE / January 1, 2019 / Juan Monteverde, founder and managing partner at Monteverde & Associates PC, a national securities firm headquartered at the Empire State Building in New York City, is investigating the Board of Directors of Resolute Energy Corporation ("Resolute" or the "Company") (NYSE: REN) for possible breaches of fiduciary duty related to the sale of the company to Cimarex Energy Co. (“Cimarex’). The investigation focuses on whether Resolute and its Board of Directors violated securities laws and/or breached their fiduciary duties to the Company's stockholders by 1) failing to conduct a fair process, 2) whether and by how much this proposed transaction undervalues the Company by and 3) failing to disclose all material financial information in connection with the upcoming shareholder meeting.
NEW YORK, Dec. 28, 2018 -- Bragar Eagel & Squire, P.C. reminds investors that it is investigating potential claims on behalf of stockholders of ConvergeOne Holdings, Inc.,.
NEW YORK , Dec. 28, 2018 /PRNewswire/ -- Apptio, Inc. (APTI) Lifshitz & Miller announces investigation into possible breaches of fiduciary duties in connection with the sale of Apptio to Vista Equity ...
DENVER, Dec. 18, 2018 -- Resolute Energy Corporation (NYSE: REN) today announced that its Board of Directors declared a cash dividend of $20.3125 per share on its 8⅛% Series B.
NEW YORK, Dec. 18, 2018 -- The following statement is being issued by Levi & Korsinsky, LLP: Levi & Korsinsky, LLP announces that investigations have commenced on.
NEW YORK, NY / ACCESSWIRE / December 17, 2018 / Juan Monteverde , founder and managing partner at Monteverde & Associates PC , a national securities firm headquartered at the EmpireState Building in New ...
NEW YORK, Dec. 12, 2018 -- In new independent research reports released early this morning, Market Source Research released its latest key findings for all current investors,.
NEW YORK, Dec. 03, 2018 -- The following statement is being issued by Levi & Korsinsky, LLP: Levi & Korsinsky, LLP announces that investigations have commenced on.
NEW YORK, Dec. 03, 2018 -- Bragar Eagel & Squire, P.C. reminds investors that it is investigating potential claims on behalf of stockholders of Apptio, Inc., Athenahealth,.
NEW YORK , Dec. 1, 2018 /PRNewswire/ -- Juan Monteverde , founder and managing partner at Monteverde & Associates PC , a national securities firm headquartered at the Empire State Building in New York ...
BERWYN, Pa. , Nov. 29, 2018 /PRNewswire/ -- RM LAW, P.C. is investigating potential claims against the board of directors of Resolute Energy Corporation ("Resolute" or the "Company") ...
Cimarex Energy (XEC) took the acquisition route to expand market reach in the Permian play, while Helmerich & Payne (HP) posted quarterly profit following a string of losses.