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Seventy Seven Energy Inc (SVNT.PK)

SVNT.PK on OTC Markets Group - US Other OTC and Grey Market

15.25USD
23 Aug 2016
Change (% chg)

$0.10 (+0.66%)
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Volume
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--
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Latest Key Developments (Source: Significant Developments)

Seventy Seven Energy Inc says "emerges from chapter 11 bankruptcy"
Monday, 1 Aug 2016 04:16pm EDT 

Seventy Seven Energy Inc : Seventy Seven Energy Inc. emerges from chapter 11 bankruptcy . Seventy Seven Energy Inc. says "emerges from chapter 11 bankruptcy" .Pre-Packaged bankruptcy process successfully completed with $1.1 billion of existing debt converted into new common equity.  Full Article

Seventy Seven Energy Inc says plans to emerge from Chapter 11
Wednesday, 20 Jul 2016 05:15pm EDT 

Seventy Seven Energy Inc : Debtors plan to emerge from chapter 11 on or about august 1, 2016 . On july 14, 2016, court issued an order confirming joint-prepackaged plan of reorganization of debtors - sec filing .On july 14, 2016, court issued an order confirming joint-prepackaged plan of reorganization of debtors.  Full Article

Seventy Seven Energy files for court approval of reorganization plan
Tuesday, 7 Jun 2016 11:49am EDT 

Seventy Seven Energy Inc : Seventy Seven Energy Inc. files for court approval of prepackaged reorganization plan . Says $1.1 billion of existing debt to be converted into new common equity . Chapter 11 reorganization is expected to conclude within 60 days . Key component of plan is that all trade creditors, suppliers and contractors will be paid in ordinary course of business . Trade creditors, suppliers and contractors to be paid in full in ordinary course .All commercial and operational contracts will remain in effect in accordance with their terms preserving rights of all parties.  Full Article

Seventy Seven Energy enters second amended, restated restructuring support agreement
Friday, 13 May 2016 07:32am EDT 

Seventy Seven Energy Inc : Seventy Seven Energy Inc enters into second amended and restated restructuring support agreement . $1.1 billion of existing debt to be converted into new common equity . Consenting 2022 noteholders join amended agreement, majority of noteholders support deal . Trade creditors, suppliers and contractors to be paid in full in ordinary course . Intends to commence a prepackaged Chapter 11 proceeding on or before June 9, 2016, in order to implement plan .In exchange for support, consenting 2022 noteholders, will, among other things, be entitled to appoint a board observer.  Full Article

Seventy Seven says began soliciting acceptances of plan of reorganization under Chapter 11
Monday, 9 May 2016 09:19am EDT 

Seventy Seven Energy Inc :Commenced solicitation of acceptances of consensual joint prepackaged plan of reorganization under chapter 11 of bankruptcy code.  Full Article

Seventy Seven Energy Inc announces closing of sale of Hodges Trucking Company, L.L.C. to Aveda Transportation and Energy Services Inc's subsidiary
Monday, 15 Jun 2015 07:00pm EDT 

Seventy Seven Energy Inc:Says completion of previously disclosed sale of Hodges Trucking Company, L.L.C. to wholly owned subsidiary of Aveda Transportation and Energy Services Inc.Says that at closing, SSE received aggregate consideration of $42 million, subject to a customary post-closing working capital adjustment, consisting of $15 million in cash and $27 million principal amount junior secured fixed rate note due June 15, 2020.Says note is secured by a second lien on substantially all of Aveda's fixed assets and accounts receivable.  Full Article

Seventy Seven Energy Inc announces sale of Hodges Trucking Company, L.L.C.
Monday, 25 May 2015 09:00am EDT 

Seventy Seven Energy Inc:Says execution of definitive agreement to sell Hodges Trucking Company, L.L.C. to wholly-owned subsidiary of Aveda Transportation and Energy Services Inc.The transaction, which is expected to close on June 15, is subject to a number of standard conditions precedent to closing.  Full Article

Seventy Seven Energy Inc closes $100 million term loan financing
Thursday, 14 May 2015 04:02pm EDT 

Seventy Seven Energy Inc:Says its wholly owned subsidiary, Seventy Seven Operating LLC, has closed an incremental $100 million junior lien financing under term loan facility with BlueMeridian Capital LLC.Intends to use net proceeds from incremental term loan for general corporate purposes and to pay costs and expenses incurred in connection with transaction.  Full Article