29 Jan 2016listing compliance notice▼ BadMajor
GeoMet, Inc. terminated the registration of a class of securities, ending its reporting obligation for them.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
12 Jan 2016listing compliance notice▼ Bad
GeoMet, Inc. withdrew a registration statement, abandoning the offering it covered.
22 Dec 2015substantial holder notice● Neutral
NORTH SHORE ENERGY, LLC, YORKTOWN ENERGY PARTNERS VIII, L.P, YORKTOWN VIII COMPANY LP, YORKTOWN VIII ASSOCIATES LLC disclosed a new substantial GeoMet, Inc. shareholding (30.70% of votes).
21 Dec 2015security holder rights change▼ BadMajor
Stockholders approved a Plan of Dissolution at a December 10, 2015 special meeting, and GeoMet filed a Certificate of Dissolution on December 11, 2015, effective 5:00 p.m. ET on December 21, 2015. From then the company closed its stock transfer books, and holders of record cannot transfer shares except by will, intestate succession or operation of law. This resolves the open question after the asset sale of whether the company would merge or liquidate: it is being dissolved. The filing gives no amount for any distribution to preferred or common holders.
21 Dec 2015securities registration● Neutral
GeoMet, Inc. amended an already-effective registration statement.
18 Dec 2015substantial holder notice● Neutral
YORKTOWN ENERGY PARTNERS IV, L.P, YORKTOWN IV COMPANY LLC reported no remaining GeoMet, Inc. shareholding in its periodic institutional filing.
2 Nov 2015quarterly activities report▼ Bad
GeoMet, Inc. reported a quarterly net loss of $922 thousand for the period ended 2015-09-30.
2 Nov 2015quarterly activities report▼ Bad
GeoMet, Inc. reported a quarterly net loss of $922 thousand for the period ended 2015-09-30.
21 Oct 2015substantial holder notice● Neutral
Central Securities Corporation reported no remaining GeoMet, Inc. shareholding in its periodic institutional filing.
2 Oct 2015substantial holder notice● Neutral
Grace Brothers, Ltd, Bradford T. Whitmore, Spurgeon Corporation disclosed a new substantial GeoMet, Inc. shareholding (27.30% of votes).
17 Sept 2015substantial holder notice● Neutral
Central Securities Corporation reported a GeoMet, Inc. shareholding of 2,646,108 shares (6.10% of votes) in a periodic institutional filing.
17 Sept 2015substantial holder notice● Neutral
Central Securities Corporation reported a GeoMet, Inc. shareholding of 2,339,669 shares (5.40% of votes) in a periodic institutional filing.
13 Aug 2015quarterly activities report▼ Bad
GeoMet, Inc. reported a quarterly net loss of $665 thousand for the period ended 2015-06-30.
1 May 2015quarterly activities report▼ Bad
GeoMet, Inc. reported a quarterly net loss of $756 thousand for the period ended 2015-03-31.
30 Apr 2015quarterly activities report▼ Bad
GeoMet, Inc. reported a quarterly net loss of $756 thousand for the period ended 2015-03-31.
16 Jan 2015substantial holder notice● Neutral
Grace Brothers, Ltd, SPURGEON CORPORATION, BRADFORD T. WHITMORE disclosed a new substantial GeoMet, Inc. shareholding (18.50% of votes).
12 Nov 2014quarterly activities report▼ Bad
GeoMet, Inc. reported a quarterly net loss of $612 thousand for the period ended 2014-09-30.
12 Nov 2014quarterly activities report▼ Bad
GeoMet, Inc. reported a quarterly net loss of $612 thousand for the period ended 2014-09-30.
27 Oct 2014listing compliance notice● NeutralMajor
GeoMet, Inc.'s exchange filed to remove a class of its securities from listing.
7 Oct 2014substantial holder notice● Neutral
CrossCap Management, Inc, H. Mark Crosswell, CrossCap Energy SSF, L.P, CrossCap General Partners, L.P, CrossCap Energy QP SSF, L.P, CrossCap Enhanced GP, L.P disclosed a new substantial GeoMet, Inc. shareholding (9.10% of votes).
26 Sept 2014listing compliance notice▼ BadMajor
On September 23, 2014 NASDAQ staff told GeoMet it views the company as a public shell with no operating business, and that its Series A preferred stock (GMETP) will be suspended and delisted from NASDAQ at the open on October 2, 2014. GeoMet said it does not intend to appeal. This follows the May 2014 sale of substantially all its assets; the preferred was the last security listed on NASDAQ, so it will no longer trade there.
15 Aug 2014quarterly activities report● Neutral
GeoMet, Inc. reported a quarterly net income of $59.0 million for the period ended 2014-06-30.
14 Aug 2014quarterly activities report● Neutral
GeoMet, Inc. reported a quarterly net income of $59.0 million for the period ended 2014-06-30.
13 May 2014quarterly activities report● Neutral
GeoMet, Inc. reported a quarterly net income of $849 thousand for the period ended 2014-03-31.
13 May 2014asset acquisition disposition● NeutralMajor
On May 12, 2014 GeoMet closed the sale of substantially all its remaining Appalachian coalbed methane assets to ARP Mountaineer Productions (Atlas Resource Partners) at an adjusted price of about $97.5 million, down from $107 million after about $9.5 million of adjustments (mainly net cash flows since the January 1, 2014 effective date). About $69.1 million repaid all bank borrowings, which ended the credit agreement, and $3.1 million settled the remaining gas hedges; a final price is to be settled within 95 days. This completes the sale agreed in February 2014 and clears the bank debt. The pro forma balance sheet shows about $28.5 million of cash and a stockholders' deficit of about $(24.1) million, with $44.7 million of mezzanine (preferred) equity still outstanding. The filing does not say what, if anything, goes to preferred or common holders.
13 May 2014quarterly activities report● Neutral
GeoMet, Inc. reported a quarterly net income of $849 thousand for the period ended 2014-03-31.
1 Apr 2014quarterly activities report● Neutral
GeoMet, Inc. reported a quarterly net income of $849 thousand for the period ended 2014-03-31.
27 Mar 2014business combination● Neutral
GeoMet filed its definitive proxy statement setting a special stockholder meeting for May 5, 2014 (record date March 26, 2014) to vote on selling substantially all assets to ARP Mountaineer under the February 13, 2014 agreement. The board recommends a FOR vote, and not voting counts as a vote against. This sets the date for the approval step already described in the preliminary proxy; the visible text shows no changes to the terms.
14 Mar 2014business combination● Neutral
GeoMet filed a preliminary proxy statement for a special stockholder vote on the $107 million asset sale to ARP Mountaineer (Atlas), with the date, place and record date still blank. It says the board recommends voting for the sale, and approval needs at least 50% of the preferred and a majority of the combined voting power. Supporting holders including Sherwood (about 58.6% of preferred) and Yorktown (about 30.6% of common) have agreed to vote for it. The full text was truncated, so details such as the fairness opinion and what holders receive afterward are not captured here.
4 Mar 2014debt financing▲ GoodMajor
On February 28, 2014 GeoMet and its banks signed a Seventh Amendment moving the credit agreement due date from April 1, 2014 to the earliest of June 30, 2014, closing of the Atlas (ARP Mountaineer) asset sale or a substitute sale, or termination of the purchase agreement. It also waives the 2014 budget and December 31, 2013 reserve report deliveries, and requires sale proceeds to repay the loan in full. This resolves the April 2014 maturity worry from the Sixth Amendment, but ties the debt deadline to the sale closing.