A look at some of the day's big movers
The company raised US$100mln by placing a pile of shares at US$2.75; not bad when the shares closed at US$2.05 on Thursday.
Who would overpay in such a dramatic fashion? Apparently “entities affiliated with its chairman and chief executive officer, Mr. George Economou.
Foresight Energy LP (NYSE:FELP), up 18% at US$4.50.
The coal mining company generated quarterly coal sales revenues of US$204.5mln on sales volumes of 4.8mln tons. Adjusted underlying earnings (Ebitda) clocked in at $US84.5 million, prompting the company to revise full-year guidance to Ebitda of between US$285mln and US$310mln.
Black Box Corporation (NASDAQ:BBOX), down 43% at US$4.225.
The company helps customer design, build, manage and secure their IT infrastructure; it looks like it is in a need of a bit of help itself, after it reported a net loss of US$9.7mln in the fiscal first quarter, versuss a loss of US$0.5mln from the same period a year earlier.
"First quarter results are disappointing,” conceded E C Sykes, the company's president and chief executive, who put the poor quarter down to a number of disruptions, some project delays and lower revenues in its commercial services arm.
As discounted share issues go, this one is quite severe: the medtech firm plans to offer units at US$1,000 a pop, with each unit comprising one convertible B share (convertible into 435 common shares at a conversion price of US$2.30 each) and one seven-year warrant to purchase 435 common shares, also at US$2.30 a share.