New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
February 5, 2013
11:11 EDTMCPMolycorp February weekly calls active on renewed takeover chatter
Molycorp February 8 and 9 weekly calls are active on total call volume of 13K (2K puts). February weekly call option implied volatility is at 71, February and March is at 77, April is at 72; compared to its 26-week average of 71 according to Track Data. Active call volume suggests traders taking positions for large price movement following renewed takeover chatter.
News For MCP From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
June 25, 2015
13:03 EDTMCPMolycorp common stock to move to OTC trading
Molycorp announced that its common stock will be quoted on over-the-counter markets immediately under the symbol MCPIQ. The company expects to be notified by the NYSE via delisting letter over the next several days.
05:50 EDTMCPMolycorp files for Chapter 11 bankruptcy protection
Molycorp announced that it has executed a restructuring support agreement with creditors that hold over 70% of the aggregate principal amount of the company's 10% senior secured notes. The agreement provides for a financial restructuring of the company's $1.7B in debt and provides up to $225M in gross proceeds in new financing to support operations while the company completes negotiations with creditors. To facilitate its financial restructuring, Molycorp and its North American subsidiaries filed voluntary petitions under Chapter 11 of the Bankruptcy Code in U.S. Bankruptcy Court for the District of Delaware. The company’s operations outside of North America, with the exception of non-operating companies in Luxembourg and Barbados, are excluded from the filings. Molycorp Rare Metals, with operations in Quapaw, Oklahoma, also is excluded from the filings as it is not 100% owned by the company. Molycorp has obtained commitments from a group of its 10% senior secured noteholders, led by JHL Capital Group, JMB Capital Partners and QVT Financial, for up to $225M in gross proceeds of debtor-in-possession financing, subject to court approval, which will be used to support operations during the Chapter 11 period. Approximately $40M of this amount is expected to be made available to the company immediately after an initial court hearing, with approximately another $90M available subject to court approval at a further hearing at the end of the first month of the case. The remainder is available on a delayed basis and subject to lender conditions. "Employees are working their usual schedules. Purchasing of goods and services will continue, with all purchases made after today's filings granted a special administrative priority under the law," Molycorp said. It expects to receive notice from the New York Stock Exchange that its shares will be delisted from the NYSE within nine calendar days of notification. It expects that its shares will be traded on the OTC Pink Sheets exchange.
June 23, 2015
16:05 EDTMCPMolycorp, MCP Exchangeco report postponement of FY15 annual meetings of holders
Subscribe for More Information
June 22, 2015
05:53 EDTMCPStocks with implied volatility movement; MCP NCR
Stocks with implied volatility movement; Molycorp (MCP) 536, NCR Corp. (NCR) 41 according to iVolatility.
June 15, 2015
09:08 EDTMCPMolycorp to take advantage of grace period on interest due on certain notes
Molycorp announced that it has elected to take advantage of the 30-day grace period with respect to the approximately $3.36M semi-annual interest payment due June 15 on its 3.25% Senior Unsecured Convertible Notes due 2016, as provided for in the indenture governing the notes. "This election by the company will not trigger any cross-default provisions in other outstanding company debt prior to the end of the grace period and should not affect current operations. As previously disclosed, the company has retained financial and legal advisors to assist the company in restructuring its debt. The company will use the grace period to continue to evaluate different options related to such debt restructuring," Molycorp stated.

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use