Tucker S Bridwell, a director of Halcon Resources Corporation, recently disposed of 127,142 shares of the company. The disposals took place at $0.00 per share, on dates ranging from September 09 to September 12, 2016. Bridwell now owns just 3,858 shares of the company. Bridwell operates out of Houston, TX. Some additional info was provided as follows:
On July 27, 2016, the Issuer and certain of its subsidiaries (the "Debtors") filed voluntary petitions for relief under chapter 11 of title 11 of the United States Code in the United States Bankruptcy Court for the District of Delaware (the "Bankruptcy Court"). On September 8, 2016, the Bankruptcy Court entered an order confirming the Debtors' Amended Joint Prepackaged Chapter 11 Plan Under Chapter 11 of the Bankruptcy
Code, dated as of September 2, 2016 (the "Plan") and on September 9, 2016 (the "Effective Date"), the Plan became effective pursuant to its terms and the Debtors emerged from the chapter 11 cases. On the Effective Date, all outstanding shares of the Issuer's common stock (the "Old Common Stock") were cancelled and extinguished.
The reporting person disclaims beneficial ownership of these securities, and the filing of this report is not an admission that the reporting person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose.
These securities are owned directly by a partnership, of which the reporting person is the manager of its general partner.
Shares owned by a family limited partnership of which the reporting person and his spouse are general partners. The reporting person disclaims beneficial ownership of any securities in which he does not have a pecuniary interest.
New shares of the Issuer's common stock, par value $0.0001 per share (the "New Shares") were issued to the Reporting Person pursuant to the Plan in exchange for Old Common Stock held by the Reporting Person on the Effective Date under the Plan. The Reporting Person received 1 New Share for every 34 shares of Old Common Stock held by the Reporting Person on the Effective Date of the Plan. The receipt of New Shares was involuntary, without consideration and in accordance with the Plan approved by the Bankruptcy Court.
The above information was disclosed in a filing to the SEC. To see the filing, click here.
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