Each one in plain English, with the numbers worked through for a shareholder.
29 Mar 2018material agreement● NeutralMajor
On March 28, 2018 Unit agreed to sell 50% of Superior Pipeline, its wholly owned midstream business, to SP Investor Holdings (owned by OPTrust and Partners Group funds) for about $300 million in cash, with closing expected April 3, 2018. Unit would keep the other 50%. Closing remains subject to customary conditions.
Unit Corp issued its proxy statement for the May 2, 2018 annual meeting, asking stockholders to elect two Class I directors, hold an advisory pay vote and ratify PricewaterhouseCoopers as auditor for 2018.
Unit filed a prospectus supplement under its new shelf registration for up to $80,996,909 of common stock to be sold through Raymond James. This continues the $100 million distribution agreement, of which $19,003,091 had previously been sold.
On March 7, 2018 Unit and Raymond James extended their April 2017 stock distribution agreement to April 4, 2019. The agreement lets Unit issue stock with an aggregate offering price of up to $100 million; other terms are unchanged. The filing does not say any shares have been or will be sold.
Unit Corp announced it issued a press release on February 22, 2018 with results for the three and twelve months ended December 31, 2017. The 8-K itself, which furnishes the release as an exhibit, gives no figures.
Unit Corp filed an 8-K furnishing a press release dated November 2, 2017 announcing its financial results for the three and nine months ended September 30, 2017.
Unit Corp filed an 8-K furnishing a press release dated August 3, 2017 announcing its financial results for the three and six months ended June 30, 2017.
Unit Corp reported second-quarter 2017 revenue of $170.6 million and net income of $9.1 million, compared with a $72.1 million net loss a year earlier.