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NEWS
Battalion Oil Corporation Announces Amendment to Merger Agreement with Fury Resources, Inc.
Battalion Oil (NYSE American: BATL) has amended its merger agreement with Fury Resources, Inc. The key points are:
1. Fury will acquire all outstanding BATL common shares for $7.00 per share in cash.
2. Preferred stockholders will exchange their shares for new Fury preferred shares.
3. The deal is expected to close in Q4 2024, subject to stockholder approval.
4. Fury has secured $548 million in capital commitments, including $200 million in debt, $188 million in preferred stock, and $160 million in equity.
5. Post-transaction, Fury is expected to have $100 million in cash on the balance sheet.
The merger aims to provide Fury with a foothold in a prolific basin, offering high-return locations and consolidation opportunities. Both companies express confidence in the deal's potential to benefit BATL stockholders and Fury Resources post-transaction.
1. Fury will acquire all outstanding BATL common shares for $7.00 per share in cash.
2. Preferred stockholders will exchange their shares for new Fury preferred shares.
3. The deal is expected to close in Q4 2024, subject to stockholder approval.
4. Fury has secured $548 million in capital commitments, including $200 million in debt, $188 million in preferred stock, and $160 million in equity.
5. Post-transaction, Fury is expected to have $100 million in cash on the balance sheet.
The merger aims to provide Fury with a foothold in a prolific basin, offering high-return locations and consolidation opportunities. Both companies express confidence in the deal's potential to benefit BATL stockholders and Fury Resources post-transaction.
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Jaguar8 OP : Another one who had a heads up haha
Trytosaveabit : Again looks like some new ahead of time! It hit that 7 cap pretty damn fast! Hehehe. I didn’t even get to read any of it before it was there! Hehehe
Jaguar8 OP Trytosaveabit : Exactly. By the time we know about it, it’s almost 7/sh haha
StarGazerr : Can you tell me how you found out so quickly? I want to develop a system that automatically places orders based on news.
Jaguar8 OP StarGazerr : I have news alerts from different sources: Stocktitan, WB, Benzinga etc.
StarGazerr Jaguar8 OP : Do you have any suggestions on how to automate the news filtering and how to place orders based on the news?
Jaguar8 OP StarGazerr : I don’t filter. I get all news then choose which to post since some news are not really worth the time