Each one in plain English, with the numbers worked through for a shareholder.
25 Aug 2023substantial holder notice● Neutral
Stronghold Energy II Operating, LLC, Stronghold Energy II Intermediate, LLC, Stronghold Energy II Holdings, LLC, Warburg Pincus & Company US, LLC, WP Energy Stronghold Holdings, L.P, WP Energy Partners Stronghold Holdings, L.P, WP XII Stronghold Holdings, L.P, Warburg Pincus & Co, Warburg Pincus LLC reported a RING ENERGY, INC. shareholding of 46,994,853 shares (24.10% of votes) in a periodic institutional filing.
17 Aug 2023asset acquisition disposition▲ GoodMajor
Ring closed the Founders Oil & Gas acquisition for about $65 million in cash (including a $15 million payment deferred to December 2023), adding acreage adjacent to its 2022 Stronghold assets in the Central Basin Platform.
Ring Energy said it issued a press release on August 3, 2023 announcing its second-quarter results for the period ended June 30, 2023, and posted an updated investor presentation to its website.
Ring Energy filed its quarterly report for the second quarter ended June 30, 2023, covering its financial position, hedging positions and the Stronghold acquisition.
Ring agreed to buy Founders Oil & Gas IV's oil and gas interests in Ector County, Texas for $75 million cash, with $7.5 million deposited in escrow. Closing was expected in the third quarter of 2023, and either side could terminate if it had not closed by September 15, 2023.
Ring Energy said it issued a press release on May 3, 2023 announcing its first-quarter results for the period ended March 31, 2023, and posted an updated investor presentation to its website.
Ring Energy posted a presentation backing its proposal to increase the authorized number of common shares, to be put to stockholders at the 2023 annual meeting. It said the extra shares would help fund future acquisitions, and referred to its April 11 preliminary proxy statement.
Ring Energy cut the exercise price of 14,512,165 warrants from $0.80 to $0.62 per share in exchange for their full cash exercise, raising gross proceeds of $8,997,543. About 78,200 warrants remained outstanding afterward.
12 Apr 2023security holder rights change▲ GoodMajor
Ring cleaned up the dilutive warrants from its distressed 2020 stock sale, inducing holders to exercise nearly all of them early by cutting the strike price from $0.80 to $0.62, raising about $9 million and simplifying its capital structure - a much healthier resolution to that 2020 financing than the crisis conditions it was born from.
Simon Kukes and J. Douglas Schick filed a final Schedule 13D amendment, an exit filing, reporting their combined stake had fallen to 5,515,387 shares (3.0%). Kukes held 5,507,887 of those shares, and the group had dropped below 5% on November 10, 2022.
Ring Energy filed an 8-K announcing it had issued a press release with its fourth-quarter and full-year 2022 results, and posted a new company presentation to its website. The filing itself gave no financial figures.