6 Feb 2019securities registration● Neutral
PAR PACIFIC HOLDINGS, INC. registered a securities offering with the SEC using its shelf eligibility.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
5 Feb 2019securities registration● Neutral
PAR PACIFIC HOLDINGS, INC. amended a filing by which it registered a securities offering with the SEC using its shelf eligibility.
4 Feb 2019quarterly activities report● Neutral
Par Pacific filed an exhibit-only amendment to its 10-Q for the quarter ended September 30, 2018, re-filing Exhibit 10.2 (the Laramie Energy unit purchase agreement) after SEC comments. No financial results were reported or changed.
31 Jan 2019substantial holder notice● Neutral
BlackRock, Inc reported a PAR PACIFIC HOLDINGS, INC. shareholding of 4,623,320 shares (10.10% of votes) in a periodic institutional filing.
28 Jan 2019director interest notice● Neutral
PAR PACIFIC HOLDINGS, INC. director Katherine Hatcher received 1,503 shares as part of the equity award.
28 Jan 2019director interest notice● Neutral
Katherine Hatcher became a PAR PACIFIC HOLDINGS, INC. director and company insider (initial ownership filing).
16 Jan 2019securities registration● Neutral
PAR PACIFIC HOLDINGS, INC. registered a securities offering with the SEC using its shelf eligibility.
14 Jan 2019asset acquisition disposition▲ GoodMajor
Par Pacific closed its $358 million purchase of U.S. Oil & Refining on Jan 11, 2019. The Tacoma, Washington assets are a 42,000 bpd refinery, a marine terminal, a rail loading terminal and 2.9 MMbbls of storage, partly funded by a new $250 million Goldman Sachs term loan.
9 Jan 2019director interest notice● Neutral
PAR PACIFIC HOLDINGS, INC. director L Melvin Cooper received 1,503 shares as part of the equity award.
9 Jan 2019director interest notice● Neutral
PAR PACIFIC HOLDINGS, INC. director Walter A Dods Jr. received 1,503 shares as part of the equity award.
9 Jan 2019director interest notice● Neutral
PAR PACIFIC HOLDINGS, INC. director Curt Anastasio received a stock option grant for 1,503 shares.
9 Jan 2019director interest notice● Neutral
PAR PACIFIC HOLDINGS, INC. director Robert S Silberman received a stock option grant for 2,505 shares.
9 Jan 2019director interest notice● Neutral
PAR PACIFIC HOLDINGS, INC. director Melvyn N Klein received a stock option grant for 2,505 shares.
9 Jan 2019director interest notice● Neutral
PAR PACIFIC HOLDINGS, INC. director Timothy Clossey received a stock option grant for 1,503 shares.
8 Jan 2019director interest notice● Neutral
PAR PACIFIC HOLDINGS, INC. Senior Vice President Joseph Israel had 2,063 shares withheld for taxes on vesting stock.
4 Jan 2019director interest notice● Neutral
PAR PACIFIC HOLDINGS, INC. Chief Financial Officer William Monteleone had 574 shares withheld for taxes on vesting stock.
21 Dec 2018securities registration● Neutral
PAR PACIFIC HOLDINGS, INC. registered a securities offering with the SEC using its shelf eligibility.
20 Dec 2018capital raising announcement▲ GoodMajor
On Dec 19, 2018 Par Pacific closed the purchase of the IES refining units in Hawaii announced in August, completing that deal. The price was $45 million: $30 million cash plus 860,502 shares, and an additional 247,700 shares were issued at closing as an initial inventory adjustment, with further adjustments still to come. Par also agreed to register IES's shares for resale, and the news release says about 80 IES employees are joining Par, and a long-term agreement lets Par use IES's retained storage and throughput assets.
11 Dec 2018material agreement▲ GoodMajor
Ahead of closing its planned purchase of refining "topping units" to expand the Kapolei, Hawaii refinery, Par Hawaii amended its J. Aron supply arrangement so J. Aron will procure up to 150,000 barrels/day of crude for the refinery (up from 94,000), covering the added processing capacity once the deal closes.
30 Nov 2018capital raising announcement● Neutral
This amendment re-files the Nov 27 8-K on the $358 million TrailStone purchase solely to attach the Purchase and Sale Agreement as Exhibit 2.1. The deal terms are restated unchanged and nothing new is disclosed.
27 Nov 2018capital raising announcement● NeutralMajor
Par Petroleum, a Par Pacific subsidiary, agreed on Nov 26, 2018 to buy TrailStone's U.S. Oil & Refining business (via TrailStone NA Asset Finance I, LLC) for a base price of $358 million: about $321 million cash plus 2,363,776 shares. Par can swap up to about $113 million of the cash for extra shares (capped at 19.9% of shares outstanding). Goldman Sachs Bank USA committed to a $275 million senior secured term loan to fund it. Closing was not before Jan 10, 2019, and either side could terminate if it had not closed by Jan 25, 2019. This is a much larger deal than the August Hawaii topping-unit purchase and would bring more debt and possibly more shares.
9 Nov 2018substantial holder notice● Neutral
BlackRock, Inc reported a PAR PACIFIC HOLDINGS, INC. shareholding of 4,587,916 shares (10.00% of votes) in a periodic institutional filing.
8 Nov 2018substantial holder notice● Neutral
Whitebox Advisors LLC, Whitebox General Partner LLC reported a PAR PACIFIC HOLDINGS, INC. shareholding of 3,317,730 shares (7.20% of votes) in a periodic institutional filing.
7 Nov 2018quarterly activities report▼ Bad
PAR PACIFIC HOLDINGS, INC. reported quarterly revenue of $909.8 million and a net loss of $5.8 million for the period ended 2018-09-30.
7 Nov 2018quarterly activities report▼ Bad
Par Pacific filed an 8-K on November 6, 2018 saying it had issued a news release reporting its third-quarter 2018 results. The release was attached as Exhibit 99.1.
9 Oct 2018director interest notice● Neutral
PAR PACIFIC HOLDINGS, INC. director L Melvin Cooper received 1,168 shares as part of the equity award.
9 Oct 2018director interest notice● Neutral
PAR PACIFIC HOLDINGS, INC. director Walter A Dods Jr. received a stock option grant for 1,168 shares.
9 Oct 2018director interest notice● Neutral
PAR PACIFIC HOLDINGS, INC. director Robert S Silberman received a stock option grant for 1,168 shares.
9 Oct 2018director interest notice● Neutral
PAR PACIFIC HOLDINGS, INC. director Melvyn N Klein received a stock option grant for 1,947 shares.
9 Oct 2018director interest notice● Neutral
PAR PACIFIC HOLDINGS, INC. director Curt Anastasio received 1,168 shares as part of the equity award.