November 6, 2020 – The Debtors filed the first iterations of their Chapter 11 Plan of Reorganization and Disclosure Statement which set out "a dual path whereby the Debtors will either reorganize via a consensual transaction that would provide for the Debtors to emerge from these chapter 11 proceedings under new ownership by the Prepetition…
StoneMor Oregon LLC, StoneMor Oregon Subsidiary LLC and StoneMor Washington, Inc., wholly-owned indirect subsidiaries of StoneMor Inc. (the Company) announced that they have entered into an Asset Sale Agreement with Clearstone Memorial Partners, LLC to sell substantially all of the Company’s assets in Oregon and Washington, consisting of nine cemeteries, ten funeral establishments and four…
November 6, 2020 – The Debtors filed a bidding procedures motion seeking Court approval of (i) bidding procedures, including bidder protections for any selected stalking horse (the Debtors do not suggest one is on the horizon), and (ii) a proposed auction/sale timetable culminating in a January 19, 2021 auction (if necessary) and a January 21,…
On November 9, 2020, Cable One, Inc. said it has completed its previously announced private offering of $650 million aggregate principal amount of 4.00% Senior Notes due 2030. The Company intends to use the net proceeds of the Offering for general corporate purposes, which may include acquisitions and strategic investments, including its previously announced investment…
November 9, 2020 – The Court hearing the YogaWorks cases issued an order authorizing the Debtors to (i) access the $2.35mn balance of a $3.35mn debtor-in-possession (“DIP”) financing facility being provided by prepetition lender Serene Investment Management, LLC (“Serene”, or the “DIP Lender”) and (ii) continue using cash collateral [Docket No. 133]. In an October…
November 9, 2020 – Further to the Court's August 21st bidding procedure order [Docket No. 259] and an oft-delayed auction process completed on November 8th, the Debtors have selected Ameredev Texas, LLC as the "Successful Bidder" (with a $46.6mn bid) for substantially all of their assets and designated Tap Rock Resources II, LLC ($15.1mn purchase…
Peabody announced its third quarter 2020 operating results with revenues sinking 39 percent from the prior year to $671.0 million due to lower volumes, mix changes and weaker seaborne pricing. US thermal revenues declined $215.4 million, including $82.6 million from Kayenta's closure in the third quarter of 2019. The Company also reported a loss of…
Bonanza Creek Energy, Inc. and HighPoint Resources Corporation announced that they have entered into a definitive merger agreement to combine both companies in a transaction valued at approximately $3761 million as of November 6, 2020. Under the terms of the merger agreement, Bonanza Creek and HighPoint have agreed to commence a registered exchange offer and…
November 7, 2020 – The Debtors requested Court approval of each of a bidding procedures order and sale order [Docket No. 53]. The bidding procedures order would (i) approve bidding procedures for the sale of substantially all of the Debtors' assets (the "Sale"), including bidder protections for stalking horse bidder Gorham Acquisition, LLC (the “Stalking…
November 6, 2020 – The Court hearing the Gorham Paper and Tissue cases authorized the Debtors to (i) access $500k of debtor-in-possession (“DIP”) financing on an interim basis and (ii) use cash collateral [Docket No. 48]. The present DIP financing is part of a $1.5mn financing package being provided by Gorham DIP Financing, LLC (the…
