Thread regarding Denbury Resources Inc. layoffs

Now watch $2.1 Billion evaporate into thin air

Amazing, isn't it...

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Post ID: @OP+16bJutFy

5 replies (most recent on top)

It’s amazing how PR and TEvans set this company on fire. GR never would have let this happen.

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Post ID: @1zar+16bJutFy

"Denbury cut a deal with holders of its revolving credit facility, second-lien and convertible notes to slash $2.1 billion of bond debt, according to a company statement. Under the deal, holders of second-lien notes will get 95% ownership of the company once it exits bankruptcy, while holders of the convertible notes will get 5%, according to regulatory filings.

While this would effectively wipe out current shares, the plan envisions giving stockholders warrants that entitle them to buy shares in the reorganized company."

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Post ID: @uor+16bJutFy

Yea, it doesn’t evaporate. A giant s—ing noise will be heard as all the share value gets s—ed from your accounts and gets transferred to the debt holders.

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Post ID: @wkz+16bJutFy

That $2.1 billion isn't going anywhere, it's now owns Denbury.

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Post ID: @jsl+16bJutFy

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