finanzen.net

YUMA - Great News / Low Floater / Hochprozentig

Seite 1 von 1
neuester Beitrag: 17.09.19 10:12
eröffnet am: 12.09.19 11:07 von: Hq1g Anzahl Beiträge: 15
neuester Beitrag: 17.09.19 10:12 von: Frozenfrog Leser gesamt: 931
davon Heute: 1
bewertet mit 1 Stern

12.09.19 11:07
1

189 Postings, 75 Tage Hq1gYUMA - Great News / Low Floater / Hochprozentig

12.09.19 11:18
1

189 Postings, 75 Tage Hq1gYUMA Energy / Explosiv

×

iHub MobileInvestors HubFREE - In Google Yuma Yuma Energy, Inc. Announces Third Party Purchase of Senior Secured Bank Debt

Yuma Energy (AMEX:YUMA)
Intraday Stock Chart

Today : Thursday 12 September 2019

HOUSTON, Sept. 10, 2019 /PRNewswire/ -- Yuma Energy, Inc. (NYSE American: YUMA) ("Yuma," the "Company," "we" or "our") today announced that an affiliate of Red Mountain Capital Partners, LLC ("Red Mountain") has purchased all of Yuma's outstanding senior secured bank indebtedness and related liabilities (the "Senior Secured Debt") totaling approximately $35 million from the Company's lending group, led by Société Générale. The purchase includes a principal balance of the Company's credit facility of $32.8 million, plus accrued interest of $1.3 million, and the release or purchase of losses associated with the Company's prior hedging arrangements totaling approximately $1.1 million. 

In anticipation of a contemplated comprehensive debt restructuring (the "Restructuring"), Red Mountain and Yuma have signed a non-binding Letter of Intent broadly outlining the terms that the parties expect to pursue in an effort to restructure the Company's balance sheet and position the Company for growth.  The Letter of Intent contemplates that Red Mountain would  enter into a forbearance agreement with respect to the Senior Secured Debt and provide Yuma with funding on a senior secured basis for certain capital expenditures. In addition, the Letter of Intent contemplates that Red Mountain and Yuma would work towards a restructuring approved by Yuma's Board of directors by September 30, 2019, which would provide for the modification of the Senior Secured Debt on mutually agreeable terms and, subject to obtaining applicable stockholder approval, the exchange of the Senior Secured Debt for debt convertible into a mutually agreed amount of newly-issued Yuma common stock and the conversion of the existing Yuma preferred stock into a mutually-agreed amount of newly-issued Yuma common stock.  The Letter of Intent contemplates that the exchange and conversion described above would occur prior to December 31, 2019.  The contemplated Restructuring, if completed, is subject to definitive agreements on mutually agreeable terms to be negotiated by the parties.

As the restructuring effort progresses, management will endeavor to reduce other liabilities on Yuma's balance sheet.  Management will also endeavor to meet the requirements of Yuma's continued listing on the NYSE American stock exchange, maintain the continued service by the current members of Yuma's Board of directors and retain Mr. Anthony C. Schnur, Yuma's Interim CEO and CRO, as Yuma's CEO and a director, which are expected to be conditions to the  contemplated Restructuring.  Other expected conditions to the contemplated Restructuring include the availability of net operating losses to offset all cancellation of indebtedness income arising as a result of the contemplated Restructuring, the right (but not the obligation) of Red Mountain to appoint up to four new directors to the Yuma Board, the payment by Yuma of all expenses associated with the contemplated Restructuring, including Red Mountain's legal expenses, and the receipt by Yuma of required Board and stockholder approvals. Following, or concurrent with, the Restructuring, Yuma will re-establish a management incentive plan approved by its Board and attempt to secure a new lender to fund its operations and to refinance any outstanding loans extended to Yuma by Red Mountain.  Finally, Yuma will seek to merge with a third party or acquire assets of a scope and size to provide for the profitability and growth of the Company.   

"We are pleased to have the opportunity to work with Red Mountain in an effort to realign our outstanding debt with the combined goal of establishing a meaningful path forward for the Company," said Anthony C. Schnur, Yuma's Interim Chief Executive Officer and Chief Restructuring Officer.  "This is the first step toward strengthening our capital base, improving our liquidity and positioning the Company to pursue growth opportunities.  Final terms and results of any restructuring will be negotiated as soon as practicable with the mutual goal of significantly reduced leverage and enhanced flexibility by the end of 2019.  While there is much work to be done to accomplish the plan as set out, we are working diligently to restructure the Company into a financially sustainable organization on which we can deliver shareholder returns."

Continuing Uncertainty
Substantial risk continues to exist that the Company will be unable to reach agreements on key issues envisioned by the non-binding Letter of Intent or meet conditions necessary to fully effect any debt or equity restructuring or the other actions contemplated by the Letter of Intent. In addition, the Company's audited consolidated financial statements for the year ended December 31, 2018, included a going concern qualification. The risk factors and uncertainties described in our SEC filings for the year ended December 31, 2018, the quarter ended March 31, 2019, and the quarter ended June 30, 2019 raise substantial doubt about the Company's ability to continue as a going concern.

About Yuma Energy, Inc.
Yuma Energy, Inc., a Delaware corporation, is an independent Houston-based exploration and production company focused on acquiring, developing and exploring for conventional and unconventional oil and natural gas resources.  Historically, the Company's activities have focused on inland and onshore properties, primarily located in central and southern Louisiana and southeastern Texas.  Its common stock is listed on the NYSE American under the trading symbol "YUMA."

Forward-Looking Statements
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act").  Any and all statements that are not strictly historical statements constitute forward-looking statements and may often, but not always, be identified by the use of such words such as "expects," "believes," "intends," "anticipates," "plans," "estimates," "potential," "possible," or "probable" or statements that certain actions, events or results "may," "will," "should," or "could" be taken, occur or be achieved. The Company's annual report on Form 10-K for the year ended December 31, 2018, quarterly reports on Form 10-Q, recent current reports on Form 8-K, and other SEC filings discuss some of the important risk factors identified that may affect its business, results of operations, and financial condition. The Company undertakes no obligation to revise or update publicly any forward-looking statements, except as required by law.

For more information, please contact
M. Carol Coale
Managing Director
Dennard Lascar Investor Relations
1800 West Loop South, Suite 200
Houston, TX  77027
713-529-6600 
ccoale@dennardlascar.com

 View original content:http://www.prnewswire.com/news-releases/...d-bank-debt-300915606.html

SOURCE Yuma Energy, Inc.

Copyright 2019 PR Newswire

Latest YUMA Messages

ClayTrader Wed Sep 11, 2019 4:17 PM (12 hours ago)* * $YUMA Video Chart 09-11-2019 * *  davidsson10 Wed Sep 11, 2019 3:54 PM (13 hours ago)Took the R/T Capital Gains Train out of  aristotelisonassis Wed Sep 11, 2019 3:26 PM (13 hours ago)breaking out!  aristotelisonassis Wed Sep 11, 2019 3:13 PM (13 hours ago)Volume coming in. Hold on tight. Overnighter for sure.  Full Contact Yoga Wed Sep 11, 2019 11:01 AM (18 hours ago)nice day, I'm out, 90 minute work day  aristotelisonassis Wed Sep 11, 2019 10:29 AM (18 hours ago)float is locked. Shorts are toast.  aristotelisonassis Wed Sep 11, 2019 9:50 AM (19 hours ago)volume is crazy like tony montana!  stockmoneybaby Wed Sep 11, 2019 9:49 AM (19 hours ago)Boom!!  [SMART MONEY] Wed Sep 11, 2019 9:48 AM (19 hours ago)wow they pulled it down @ the open  [SMART MONEY] Wed Sep 11, 2019 9:02 AM (20 hours ago)YUMA 3.05 DIP FROM 4.46  

See More Posts on YUMA Message Board

Share On:

      



Your Recent HistoryPage 1 of 2

AMEX

YUMA

Yuma Energ..Quote

 





 


 



 

 

13.09.19 08:07

189 Postings, 75 Tage Hq1gMuss auf die Watchlist oder besser gleich rein

16.09.19 10:08

189 Postings, 75 Tage Hq1gGuten Morgen YUMA Energy ler

16.09.19 10:17

189 Postings, 75 Tage Hq1gYUMA Energy / Oil Price flying Today

16.09.19 10:19
1

189 Postings, 75 Tage Hq1gYuma Energy Today 7 $ +

16.09.19 11:11

799 Postings, 3425 Tage BOS67Hq1g

sag mal führst du Selbstgspräche?  Keine Sau antwortet auf deine sinnlosen Kommentare  

16.09.19 13:22

189 Postings, 75 Tage Hq1g@Böse - Da, N8mentan führe Ich Selbstgesoräche

16.09.19 13:23

189 Postings, 75 Tage Hq1gKampfflugzeuge am Himmel - Ölpreis Explodiert

16.09.19 13:24
1

189 Postings, 75 Tage Hq1gYUMA / Heute 10 $ +

16.09.19 19:08
1

189 Postings, 75 Tage Hq1gYUMA / Top

17.09.19 07:09

189 Postings, 75 Tage Hq1gYUMA / Guten Morgen YUMA ler

17.09.19 07:11

189 Postings, 75 Tage Hq1gDiese Woche 10 $ +

17.09.19 08:27

189 Postings, 75 Tage Hq1gYUMA Energy / Extrem Low Floater

17.09.19 10:12

1383 Postings, 800 Tage FrozenfrogHeute denke ich

geht es bergab.  

   Antwort einfügen - nach oben

  9 Nutzer wurden vom Verfasser von der Diskussion ausgeschlossen: bradetti, Der_Held, fragmichmal, Frühstücksei, Kap Hoorn, maxiiimax, Maydorn, xkalibur88, WenigerAlk

Online Brokerage über finanzen.net

finanzen.net Brokerage
Handeln Sie für nur 5 Euro Orderprovision* pro Trade aus der Informationswelt von finanzen.net!

ETF-Sparplan

Oskar ist der einfache und intelligente ETF-Sparplan. Er übernimmt die ETF-Auswahl, ist steuersmart, transparent und kostengünstig.
Zur klassischen Ansicht wechseln
Kontakt - Impressum - Werben - Pressemehr anzeigen
Top News
Beliebte Suchen
DAX 30
Öl
Euro US-Dollar
Bitcoin
Goldpreis
Meistgesucht
Microsoft Corp.870747
Deutsche Bank AG514000
Daimler AG710000
Wirecard AG747206
Apple Inc.865985
Scout24 AGA12DM8
Amazon906866
Ballard Power Inc.A0RENB
NEL ASAA0B733
TeslaA1CX3T
Allianz840400
BASFBASF11
Aurora Cannabis IncA12GS7
BMW AG519000
Siemens AG723610