30 Jan 2015director interest notice● Neutral
Glori Energy Inc. director John U Clarke received 24,194 shares as part of the equity award.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
1 Dec 2014director interest notice● Neutral
Glori Energy Inc. director Matthew A Gibbs sold 41,500 shares.
12 Nov 2014quarterly activities report▼ Bad
Glori Energy Inc. reported a quarterly net loss of $356 thousand for the period ended 2014-09-30.
12 Nov 2014quarterly activities report▼ Bad
Glori Energy Inc. reported a quarterly net loss of $356 thousand for the period ended 2014-09-30.
11 Sept 2014listing compliance notice● NeutralMajor
Glori Energy Inc.'s exchange filed to remove a class of its securities from listing.
5 Sept 2014director interest notice● Neutral
Glori Energy Inc. President and CEO Stuart M Page bought 2,000 shares on the open market at $6.63.
4 Sept 2014director interest notice● Neutral
Glori Energy Inc. officer William Bierhaus bought 1,000 shares on the open market at $6.67.
3 Sept 2014director interest notice● Neutral
Glori Energy Inc. Chief Financial Officer Victor M Perez bought 1,300 shares on the open market at $6.67.
29 Aug 2014listing compliance notice▼ BadMajor
On August 25, 2014 Nasdaq approved the initial listing of Glori's common stock, which continues to trade as GLRI. But Nasdaq said the warrants (the $10.00 public warrants and similar instruments from the merger vehicle) have fewer than the required 400 round lot holders, and they will be delisted at the open on September 4, 2014. Glori will not appeal. Warrant holders lose their Nasdaq listing; the filing does not say where, if anywhere, they will trade.
18 Aug 2014director interest notice● Neutral
Rocky L Duckworth became a Glori Energy Inc. director and company insider (initial ownership filing).
13 Aug 2014quarterly activities report▼ Bad
Glori Energy Inc. reported a quarterly net loss of $6.1 million for the period ended 2014-06-30.
12 Aug 2014quarterly activities report▼ Bad
Glori Energy Inc. reported a quarterly net loss of $6.1 million for the period ended 2014-06-30.
7 Aug 2014business combination● Neutral
Glori re-filed in one document the April 18, 2014 merger report and its May 2 and May 15 amendments, solely to fix the EDGAR header and record that Glori Energy Inc. is successor issuer to Infinity Cross Border Acquisition Corporation. The excerpt shown is mostly definitions and forward-looking-statement language and adds no new events; it is a technical re-filing of the merger disclosure.
7 Aug 2014business combination● Neutral
This amendment to the April 14, 2014 merger report was filed only to correct the EDGAR header so Glori Energy Inc. is shown as successor issuer to Infinity Cross Border Acquisition Corporation under Rule 12g-3, and to obtain a Commission File Number. It also restates that the company ceased to be a shell company at closing. It carries no new business or financial news.
26 June 2014director interest notice● Neutral
Glori Energy Inc. director Matthew A Gibbs sold 14,173 shares.
23 June 2014director interest notice● Neutral
Glori Energy Inc. director Larry Lee Aschebrook disposed of 1,614 shares via option/appreciation-right settlement.
17 June 2014capital raising announcement● Neutral
The two sponsors (Infinity and Hicks) had lent the pre-merger shell $500,000 in January 2014 through convertible notes. They converted the notes into 1,000,000 new warrants at $10.00 per share, expiring April 14, 2019. On June 12, 2014 Glori exercised its right to convert each warrant into 0.10 share, and the filing says the company received no additional proceeds. Inference: this would turn the 1,000,000 warrants into about 100,000 shares, but the filing does not state the share count, so the effect on existing holders is small and not quantified. Those shares are covered by the S-3 filed May 29 and amended June 16.
16 June 2014securities registration● Neutral
Glori Energy Inc. amended a filing by which it registered a securities offering with the SEC using its shelf eligibility.
29 May 2014securities registration● Neutral
Glori Energy Inc. registered a securities offering with the SEC using its shelf eligibility.
20 May 2014director interest notice● Neutral
Damon Laird Rawie became a Glori Energy Inc. director and company insider (initial ownership filing).
15 May 2014asset acquisition disposition● Neutral
This is Amendment No. 2 to the April 18 report on the merger closing, filed only to add financial information for Infinity Cross Border (INXB) and Glori for the period ended March 31, 2014, management's discussion, and pro forma figures. It restates that the merger closed April 14, 2014. The excerpt shows accounting policies and notes that Glori's old options were cancelled and reissued at a 2.9-to-1 conversion ratio, with exercise prices multiplied by 2.9. The financial figures themselves are not in the excerpt.
9 May 2014director interest notice● Neutral
Glori Energy Inc. Chief Financial Officer Victor M Perez gifted 800 shares.
8 May 2014director interest notice● Neutral
Matthew A Gibbs became a Glori Energy Inc. director and company insider (initial ownership filing).
7 May 2014director interest notice● Neutral
Glori Energy Inc. S.V.P. of Operations Kenneth Nimitz bought 100 shares on the open market at $7.82.
6 May 2014capital raising announcement▲ GoodMajor
On May 1, 2014, Glori issued 909,982 new shares at $8.00 each to investors who exercised an option under the January 7, 2014 Share Purchase Agreement, raising $7,279,856 for working capital. Combined with the $8.5 million invested at the April 14 merger closing, the press release says private placements total $15.8 million and total outstanding shares are about 30.5 million, so existing holders are diluted by the new shares. The filing also furnishes a notice that CEO Stuart Page and CFO Victor Perez will present at the Robert W. Baird conference on May 8, 2014. The CEO's quote says the funds support a strategy of acquiring oil-producing properties to demonstrate the AERO System.
What it means for a shareholder
909,982 new shares at US$8.00 to raise about US$7.3m. That's 2.9% dilution: every existing holder's slice gets 2.9% smaller. If you held US$1,000 of shares (125 at the issue price), your slice goes from 0.00041% to 0.000398% of the company. To keep it you'd need 4 more shares - about US$32 at the issue price.
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6 May 2014securities registration● Neutral
Glori Energy Inc. amended a filing by which it filed notice of an exempt private placement.
6 May 2014director interest notice● Neutral
Glori Energy Inc. Chief Executive Officer Stuart M Page bought 100 shares on the open market at $7.94.
1 May 2014substantial holder notice● Neutral
Oxford Bioscience Partners V L.P, mRNA Fund V L.P, OBP Management V L.P, Jonathan Fleming, Matthew Gibbs disclosed a new substantial Glori Energy Inc. shareholding (13.10% of votes).
30 Apr 2014director interest notice● Neutral
Oxford Bioscience Partners V L.P. became a Glori Energy Inc. 10%+ owner and company insider (initial ownership filing).
30 Apr 2014securities registration● Neutral
Glori Energy Inc. filed notice of an exempt private placement.