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January 11, 2013
14:39 EDTGNKGenco Shipping February calls active
Genco Shipping February 5 and April 6 calls are active on total call volume of 9,100 contracts (210 puts). January call option implied volatility is at 63, February is at 72, April is at 67; compared to its 26-week average of 77 according to Track Data. Active call volume suggests traders taking positions for larger price movement.
News For GNK From The Last 14 Days
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April 14, 2014
16:40 EDTGNKOZ Management reports 7.32% stake in Genco Shipping
OZ Management intends to monitor the company’s restructuring process, as first described in the Current Report on Form 8-K filed by the company with the SEC on April 3, with the intent of taking any and all actions that OZ Management deems necessary or appropriate to protect and/or maximize the value of their respective investments in the company's securities. Such actions may include, but are not limited to, entering into discussions with the Issuer, management and/or the board. OZ Management may consult with other holders of the company's securities regarding the Restructuring Process.
April 7, 2014
11:05 EDTGNK High option volume stocks: EXC QCOR SQQQ GNK PPG
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April 4, 2014
12:00 EDTGNKGenco Shipping rises 37.9%
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11:24 EDTGNKGenco Shipping downgraded to Sell from Hold at Maxim
Maxim downgraded Genco following the reorganization plan that provides warrants in the new company to existing shareholders.
10:42 EDTGNKHigh option volume stocks: FENG GNK JRJC DLLR SPN
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10:03 EDTGNKGenco Shipping in restructuring support agreement with certain lenders
Genco Shipping & Trading disclosed in a regulatory filing last night that the company and certain subsidiaries entered into a restructuring support agreement with certain lenders. The support agreement provides, subject to its terms and conditions, among other things, that the supporting creditors agree to timely vote to accept the proposed plan of reorganization contemplated by the agreement, support approval of the disclosure statement in respect of the plan and the cash collateral order contemplated, neither join in nor support any objection to the disclosure, the cash collateral order, the solicitation procedures, or the plan, or otherwise commence any proceeding to oppose or alter any of the terms of the plan or any other document filed by Genco in connection with its confirmation, and use commercially reasonable efforts to support, consent, and take other actions in connection with the company’s restructuring and the Chapter 11 case. The plan would entail, among other things, a $100.0M rights offering for 8.7% of the pro forma equity in reorganized Genco, subject to dilution by the New Genco Warrants and the MIP Warrants. Eligible 2007 Facility lenders will have the right to participate in up to 80% of the rights offering, which portion will be backstopped by supporting 2007 Facility lenders, and eligible holders of Convertible Notes will have the right to participate in up to 20% of the rights offering, which portion will be backstopped by the supporting noteholders.
10:00 EDTGNKGenco Shipping rises 77.8%
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09:36 EDTGNKActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL TSLA MU GNK AMZN FB GILD MA NFLX

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