RexC
2020-08-31
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SAExploration files for bankruptcy in Texas Court
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height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSAExploration files for bankruptcy in Texas Court\n</h2>\n\n<h4 class=\"meta\">\n\n\n2020-08-28 20:38 GMT+8 <a href=https://seekingalpha.com/news/3609726-saexploration-files-for-bankruptcy-in-texas-court><strong>Vandana Singh</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SAExploration (OTC:SAEX) has filed for Chapter 11 in Texas Court, with a proposed plan of reorganization that would eliminate ~$74M of debt.\nThe Plan contemplates the entry into a new first lien exit ...</p>\n\n<a href=\"https://seekingalpha.com/news/3609726-saexploration-files-for-bankruptcy-in-texas-court\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://seekingalpha.com/news/3609726-saexploration-files-for-bankruptcy-in-texas-court","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"2063952204","content_text":"SAExploration (OTC:SAEX) has filed for Chapter 11 in Texas Court, with a proposed plan of reorganization that would eliminate ~$74M of debt.\nThe Plan contemplates the entry into a new first lien exit facility of $15M, refinancing of the existing credit facility with a new second lien exit facility of $20.5M, and elimination of $89M of an existing senior loan facility and the Convertible Notes, in exchange for new common stock.\nThe Company has requested that the Bankruptcy Court approve the commencement of the Plan by September 16 and set October 19 as the voting date.\nEarlier in April, the company appointed Imperial Capital to explore alternatives for its capital structure.\nYTD shares have plunged ~80%.\n\nClick to subscribe to real-time analytics on SAEXNow read: Just Energy soars after earnings, approval of recapitalization plan »","news_type":1},"isVote":1,"tweetType":1,"viewCount":1377,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"CN","currentLanguage":"CN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":25,"xxTargetLangEnum":"ZH_CN"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/971190854"}
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