Chk

What's up rixi.

Am i reading this right? They paid $100 per/shr or face value is $100 pr/shr.?

I've been out of CHK since early October but i wouldn't exactly be thrilled if i were a common shareholder with this offering going through.
 
This was announced after market closed on the day of a good cc.
I bought in too high. I may actually buy more at the lower price.

1.5 billion in notes and preferred shares were announced for the $2.2 billion dollar cash aquisition of Columbia Natural Resaources, LCC

PR Newswire
"500 million of a new series of its cumulative convertible preferred stock with a liquidation preference of $100 per share."

"$400 million of a new issue of senior notes due 2020"

"$600 million of a new issue of senior unsecured contingent convertible notes due 2035
The notes will be convertible, under certain circumstances, using a net share settlement process, into a combination of cash and Chesapeake common stock. In general, upon conversion of a note, the holder of such note will receive cash equal to the principal amount of the note and common stock for the note's conversion value in excess of such principal amount"
 
Thanks. You can see the slide into this....

Tomorrow hopefully you will get an out trade that will push it up but if i were trading it here i'd set up the channel trades into range extremes. I'm just out of the sector completely for basically two reasons: b/c 90% of my profits have come from individual stocks in the sector in the last 24 months i readily will take time away from the sector's individual plays and concentrate on broad product offerings i.e. XLE that have depth and size. Just my way. I can sense though through readings taken that i may be in individual names soon. Thanks for the heads up rixi.
 
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