Battalion Oil: The Acquisition Attempt By Fury Resources May Finally Go Through [Seeking Alpha]
Battalion Oil Corporation (BATL)
Company Research
Source: Seeking Alpha
Follow Play 9min Summary Fury Resources has had prior challenges securing enough funding to acquire Battalion Oil. The seventh amendment to the merger deal reduces the deal price from $9.80 to $7.00 per share. Fury's required binding equity finance commitments were reduced from $200 million to $160 million. Fury has delivered evidence of at least $160 million in binding equity finance commitments to BATL, and it looks quite likely the deal will go through now. Despite the lower deal price, this is still good for Battalion's common shareholders since the alternative is that the preferred shares ahead in the capital structure continue to increase in total value. Looking for more investing ideas like this one? Get them exclusively at Distressed Value Investing. Learn More » mysticenergy It has been around nine months since Battalion Oil ( NYSE: BATL ) announced that Fury Resources was acquiring it for $9.80 per share in cash. I had initially thought that Battalion'
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BATL
News
- Why Is Battalion Oil Stock Jumping Premarket Friday? [Yahoo! Finance]Yahoo! Finance
- Battalion Oil Corporation Announces Amendment to Merger Agreement with Fury Resources, Inc.GlobeNewswire
- Battalion Oil (BATL) Earnings & Revenues Decline Y/Y in Q2 [Yahoo! Finance]Yahoo! Finance
- Battalion Oil Corporation Announces Second Quarter 2024 Financial and Operating ResultsGlobeNewswire
BATL
Sec Filings
- 10/3/24 - Form SC
- 10/3/24 - Form PRER14A
- 9/23/24 - Form 4
- BATL's page on the SEC website