On Friday, SM Energy Co (NYSE:SM)’s shares declined -3.67% to $53.56.
SM Energy Co (SM) declared early results for its formerly declared tender offer and related consent solicitation commenced on May 7, 2015 for any and all of its 6.625% Senior Notes due 2019 (CUSIP 78454LAB6) (the “Notes”). An aggregate of $242,922,000 principal amount of Notes, representing 69.41% of the Notes outstanding (the “Early Tendered Notes”), has been tendered as of 5:00 p.m., New York City time, on May 20, 2015. Accordingly, the requisite consents to approve the projected amendments following the consent solicitation have been obtained.
Withdrawal and revocation rights expired at 5:00 p.m., New York City time, on May 20, 2015. Notes that have been tendered may no longer be withdrawn and consents that have been delivered may no longer be revoked.
SM Energy Company, an independent energy company, engages in the acquisition, exploration, development, and production of crude oil and condensate, natural gas, and natural gas liquids in onshore North America. It primarily has operations in the South Texas and Gulf Coast region, which focuses primarily on Eagle Ford shale program; Rocky Mountain region comprising the Bakken/Three Forks formations in the North Dakota portion of the Williston Basin; Permian region covering western Texas and southeastern New Mexico; and Mid-Continent region, which manages Haynesville and Woodford shale assets.
Hemispherx BioPharma, Inc (NYSEMKT:HEB)’s shares dropped -2.09% to $0.230.
Hemispherx BioPharma, Inc (NYSEMKT:HEB) will present at the Marcum Microcap Conference being held at the Grand Hyatt Hotel in New York City on Wednesday, May 27, 2015. The presentation will focus on the anticipated relaunch of its natural interferon product, Alferon N Injection(R).
Hemispherx Biopharma, Inc., a specialty pharmaceutical company, engages in the clinical development of new drug therapies based on natural immune system enhancing technologies for the treatment of viral and immune based chronic disorders in the United States.
At the end of Friday’s trade, Weight Watchers International, Inc. (NYSE:WTW)‘s shares dipped -3.37% to $6.16.
Weight Watchers International, Inc. (WTW) declared that Nicholas Hotchkin, Chief Financial Officer, will present at the Citi 2015 Global Consumer Conference in New York, NY.
The presentation will be held on Thursday, May 28, 2015 at 2:30 p.m. Eastern Time and will be accessible via live audio webcast on the Company’s corporate website at www.weightwatchersinternational.com. An archive of the webcast will be accessible on this site for 30 days.
Weight Watchers International, Inc. provides weight administration services worldwide. The company operates through North America, United Kingdom, Continental Europe, and Other segments. It offers a range of products and services comprising nutritional, exercise, and behavioral tools and approaches.
MRC Global Inc (NYSE:MRC), ended its Friday’s trading session with -3.29% loss, and closed at $15.30.
MRC Global Inc (MRC) declared that it has reached a contract to issue $363 million of 6.50% Series A Convertible Perpetual Preferred Stock to an associate of Cornell Capital LLC. The Company anticipates to use the proceeds to pay down its term loan and asset based lending facility.
Summary of Key Terms
$363 Million Convertible Perpetual Preferred Stock:
- Conversion price of $17.88, which represents a 10.6% premium to the closing price of MRC Global’s common stock as of May 18, 2015, and a 15.1% premium to the 20-day volume weighted average price
- Convertible into about 20.3 million shares of MRC Global common stock, representing about 16.6% of common shares on an “as if converted” basis
- 5% preferred dividend per annum
Preceding to entering into this transaction, Mr. Cornell resigned from the board of directors of MRC Global effective May 18, 2015.
The transaction is predictable to close in the second quarter of 2015, and is subject to the expiration or termination of the waiting period under the Hart-Scott-Rodino Anti-Trust Improvements Act of 1976 and other usual and customary conditions.
MRC Global Inc., through its auxiliaries, distributes pipes, valves, fittings, and related products and services to the energy and industrial sectors in the Unites States, Canada, and internationally. It offers ball, butterfly, gate, globe, check, needle, and plug valves; and other products, such as lined corrosion resistant piping systems, control valves, valve automation, and top work components, in addition to steam and instrumentation products.
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