Past year: ▲ 1238%(49.5c – 6.91 USD)
Each one in plain English, with the numbers worked through for a shareholder.
27 Nov 2013capital raising announcement● Neutral
Harvest sold 1,704,800 new shares to 12 purchasers for $5,370,120 in a private placement that closed on 27 November 2013. Six officers and directors bought 246,000 of the shares for $774,900. This adds shares to the count and brings in a small amount of cash.
7 Oct 2013capital raising announcement▼ Bad
Harvest sold 790,000 shares to six private buyers over four days for a combined $3.9 million - small, hand-to-mouth raises at around $5 a share from a company that had turned down nothing less than $725 million a year earlier.
15 Oct 2012capital raising announcement▼ BadMajor
With the Pertamina sale still unapproved, Harvest borrowed $79.8 million at 11% for two years, issued at 96 cents on the dollar and with warrants over 686,761 shares at $10 attached. Part of it was paid for by rolling in an existing convertible note. Borrowing this expensively against a sale that had not closed is what later made the sale's failure fatal.
22 Aug 2012capital raising announcement● Neutral
A further $1.9 million of notes went for 339,047 shares two days later, taking the remaining balance to about $9.0 million.
20 Aug 2012capital raising announcement● Neutral
Another $4.65 million of the convertible notes was exchanged for 829,951 shares at $5.60, leaving about $10.9 million outstanding.
9 Mar 2012capital raising announcement● NeutralMajor
Harvest persuaded holders of $16.0 million of its 8.25% convertible notes to swap them for 2,875,357 shares at an effective $5.56, plus 161,603 more shares in place of a $1.3 million cash interest payment. Debt was being turned into equity at a discount to the notes' conversion price - cheaper than repaying it, but dilutive.
29 Oct 2010capital raising announcement▼ BadMajor
A $60 million two-year term loan from MSD Energy Investments, an arm of Michael Dell's family office, at 10% rising to 15% after nine months. Rates like that on unsecured money say the company could not get bank credit against assets it did not control.
