|Bid||0.0000 x 1200|
|Ask||0.0000 x 1000|
|Day's Range||0.2450 - 0.2730|
|52 Week Range||0.0230 - 0.8880|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Earnings Date||Jun 29, 2020 - Jun 30, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||0.15|
Lilis Energy, Inc. (NYSE American: LLEX; OTC Pink: LLEXQ) (the “Company”), an exploration and production company operating in the Permian Basin of West Texas and Southeastern New Mexico, announced today that it has received notification dated June 29, 2020 from the NYSE American LLC (the “NYSE American”) that the Company’s common stock has been suspended from trading on the NYSE American and that the NYSE American has determined to commence proceedings to delist the Company’s common stock. The NYSE American determined that the Company was no longer suitable for listing under Section 1003(c)(iii) of the NYSE American Company Guide after the Company’s June 29, 2020 disclosure that it and certain of its subsidiaries filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of Texas, Houston Division.
Lilis has a restructuring plan that would wipe out common shareholders and reduce its debt by $35 million.
Lilis Energy, Inc. (NYSE American: LLEX) (the “Company”), an exploration and production company operating in the Permian Basin of West Texas and Southeastern New Mexico, announced today that it has filed petitions under Chapter 11 of the United States Bankruptcy Code to initiate voluntary cases in the United States Bankruptcy Court for the Southern District of Texas, Houston Division (the “Court”). The Chapter 11 petitions were filed in accordance with a Restructuring Support Agreement (the “RSA”) entered into among the Company and certain of its subsidiaries, certain investment funds and entities affiliated with Värde Partners, Inc. (collectively, the “Värde Funds”), which collectively own all of the Company’s outstanding preferred stock, a subordinated portion of the indebtedness outstanding under the Company’s Second Amended and Restated Senior Secured Revolving Credit Agreement (as amended, the “Credit Agreement”), a portion of the Company’s common stock, and all other lenders under the Credit Agreement (the “RBL Lenders”).