28 Dec 2020listing compliance notice▼ BadMajor
TRANSATLANTIC PETROLEUM LTD. 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.
21 Dec 2020securities registration● Neutral
TRANSATLANTIC PETROLEUM LTD. amended an already-effective registration statement.
21 Dec 2020business combination● NeutralMajor
This is the final amendment to the going-private paperwork, confirming the merger closed at 12:01 am Central on December 18, 2020, after shareholders approved it at the December 17 special meeting. Common shareholders (other than excluded and dissenting shares) became entitled to $0.13 cash per share, RSUs vested and were cashed out at the same price, and the 921,000 Series A Preferred shares were cancelled with no payment. The filing says NYSE American has filed a Form 25 to delist the shares, and that Merger Sub intends to file a Form 15 to end SEC reporting; this resolves the open threads on the shareholder vote and closing, while the Form 15 deregistration is stated as intended, not yet done.
21 Dec 2020securities registration● Neutral
TRANSATLANTIC PETROLEUM LTD. amended an already-effective registration statement.
18 Dec 2020listing compliance notice● NeutralMajor
TRANSATLANTIC PETROLEUM LTD.'s exchange filed to remove a class of its securities from listing.
18 Dec 2020business combination▼ BadMajor
Completed the going-private merger at 12:01 am Central on December 18, 2020, after shareholders approved it on December 17. Each common share (other than excluded shares) was converted into $0.13 cash, trading on NYSE American was suspended, and all directors and executive officers resigned.
14 Dec 2020director interest notice● Neutral
TRANSATLANTIC PETROLEUM LTD. President Todd Dutton exercised stock options for 1,989 shares and disposed of 2,475 shares.
14 Dec 2020director interest notice● Neutral
TRANSATLANTIC PETROLEUM LTD. Chief Executive Officer Noah Malone Mitchell III exercised stock options for 45,980 shares and disposed of 45,980 shares.
14 Dec 2020director interest notice● Neutral
TRANSATLANTIC PETROLEUM LTD. Vice President Engineering David Gerald Mitchell exercised stock options for 38,026 shares and disposed of 47,287 shares.
14 Dec 2020director interest notice● Neutral
TRANSATLANTIC PETROLEUM LTD. Executive VP Turkey Selami Uras exercised stock options for 59,443 shares and disposed of 59,443 shares.
14 Dec 2020director interest notice● Neutral
TRANSATLANTIC PETROLEUM LTD. VP & General Counsel Tabitha Bailey exercised stock options for 35,874 shares and disposed of 44,610 shares.
14 Dec 2020director interest notice● Neutral
TRANSATLANTIC PETROLEUM LTD. Chief Accounting Officer Michael Paul Hill exercised stock options for 49,439 shares and disposed of 61,033 shares.
25 Nov 2020debt financing● Neutral
Got its 2019 DenizBank term loan's interest rate cut and repayment schedule eased for the final year, one of the last financing adjustments before the going-private merger closed.
19 Nov 2020quarterly activities report▼ Bad
TRANSATLANTIC PETROLEUM LTD. reported quarterly revenue of $8.6 million and a net loss of $3.0 million for the period ended 2020-09-30.
19 Nov 2020quarterly activities report▼ Bad
TRANSATLANTIC PETROLEUM LTD. reported quarterly revenue of $8.6 million and a net loss of $3.0 million for the period ended 2020-09-30.
17 Nov 2020late filing notice▼ Bad
TRANSATLANTIC PETROLEUM LTD. notified the SEC that its quarterly report would be filed late.
13 Nov 2020listing compliance notice▼ BadMajor
Received a NYSE American listing-deficiency notice after reporting a $17.3 million shareholders' equity deficit and net losses in each of the last five fiscal years - a stark confirmation of the financial deterioration behind the pending buyout.
4 Nov 2020business combination● Neutral
Amendment No. 2 to the going-private Schedule 13E-3, filed alongside the definitive proxy statement. It carries forward the Amendment No. 1 figures: 76,704,473 common shares, $9,971,581 maximum aggregate value, $0.13 per share, and preferred shares cancelled for no payment. It adds no new terms in the visible text; it is a companion to the definitive proxy.
4 Nov 2020business combination▼ BadMajor
Definitive proxy statement sent to common shareholders for a special meeting on Dec 17, 2020 (record date Nov 2) to vote on the merger with TAT Holdco at $0.13 cash per share. Approval needs 75% of votes cast. The preferred holders, who are the buyer group, already approved it on Sept 10, and dissenting common holders have Bermuda appraisal rights. If it closes, common shareholders lose their equity interest, shares leave NYSE American and the TSX, and SEC reporting ends. This moves the 2020 going-private thread from preliminary to the shareholder-vote stage, but the merger is not yet approved or completed.
9 Oct 2020substantial holder notice● Neutral
Gary West, Mary West reported a TRANSATLANTIC PETROLEUM LTD. shareholding of 8,631,530 shares (10.67% of votes) in a periodic institutional filing.
9 Oct 2020business combination● Neutral
Amendment No. 1 to the going-private filing raises the share count and maximum aggregate value: 76,704,473 common shares (including 368,916 under RSU awards) and $9,971,581, up from $8,964,177. The $0.13 per share price is unchanged, and Jonathan Fite is now added as a filing person (his affiliate KMF is among the preferred holders). The filing does not explain why the share count rose, so any reason would be inference.
30 Sept 2020capital raising announcement▼ Bad
Paid its Q3 2020 Series A Preferred dividend in stock once more, at a share price down to $0.24 - about a tenth of its 2013 highs - as the going-private deal moved toward closing.
30 Sept 2020securities registration● Neutral
TRANSATLANTIC PETROLEUM LTD. filed notice of an exempt private placement.
23 Sept 2020business combination● Neutral
Filed the required Schedule 13E-3 for the going-private merger, listing the company, the buyer entities (TAT Holdco, TAT Merger Sub) and the Mitchell family entities and other preferred holders as filers. It repeats the terms already in the Sept 22 proxy: common shareholders get $0.13 cash per share (maximum aggregate $8,964,177), and the 921,000 preferred shares are cancelled with no payment. It adds no new terms; it is a companion filing to the preliminary proxy, and the merger is not yet complete.
22 Sept 2020debt financing● Neutral
Had Chairman Mitchell personally pledge Turkish real estate (including the Gundem resort and Diyarbakir property) to secure continued DenizBank support, restructured through the same buying group now taking the company private.
22 Sept 2020business combination▼ BadMajor
Preliminary proxy statement (filed Sept 22, 2020) for the going-private merger agreed Aug 7, 2020 with TAT Holdco LLC: common shareholders would receive $0.13 cash per share (maximum aggregate value $8,964,177 for 68,955,206 shares including RSUs), while the preferred shares would be cancelled for no payment. The merger needs 75% of votes cast by common holders; the preferred holders, who are the buyer group and include Chairman/CEO Mitchell and directors Fite and Rochman, already approved it on Sept 10, 2020. A special committee of independent directors recommended it, and dissenting common holders have Bermuda appraisal rights. The merger is not yet completed; this is a preliminary filing and the shareholder meeting date is left blank. This continues the 2020 going-private thread.
17 Aug 2020substantial holder notice● Neutral
Jonathon Fite disclosed a new substantial TRANSATLANTIC PETROLEUM LTD. shareholding (8.61% of votes).
12 Aug 2020quarterly activities report▼ Bad
TRANSATLANTIC PETROLEUM LTD. reported quarterly revenue of $6.5 million and a net loss of $7.7 million for the period ended 2020-06-30.
12 Aug 2020quarterly activities report▼ Bad
TRANSATLANTIC PETROLEUM LTD. reported quarterly revenue of $6.5 million and a net loss of $7.7 million for the period ended 2020-06-30.
11 Aug 2020securities registration● Neutral
TRANSATLANTIC PETROLEUM LTD. filed notice of an exempt private placement.