FTS International Inc (FTSI)

Don’t let who you trade through charge you restructuring fees
For FTSI
Ameritrade tried

You will get around 1/4th of your original shares in terms of new shares plus some warrants that you will want to exercise when the stock goes above 30s.

You are absolutely right. Furthermore, most people who thought they were up a lot and sold will find a nasty surprise on Monday: they will be short and will need to cover.

Let's say you had 100 shares from 11/19/20 and earlier. If your brokerage did not update your numbers to around 24 on 11/20/2020 and furthermore allowed you to sell those 100 shares without warning that you would actually be short, you will be short 76 shares come settlement date.

Monday will be a surprising day for many.

Trying to understand,,I purchased some shares on 11/19...Are they now worthless and I only get 10% of new common shares? If so, are common shareholders entitled to anything else??

Seems to me that today's new FTSI shares represent 24% of an old FTSI share.

Therefore you'd expect the price to be around $20 since it was around $5 before yesterday.

There's a lot of confusion on Twitter. Many don't realize that they have only 1/4 the shares they had yesterday and think the price is way up today. For that reason they are trying to sell.

But in fact the price is way down.

Am I wrong?

$11.80 High PM

~13,687,620 shares of new Class A common stock are outstanding now

FTS International Completes Financial Restructuring

FORT WORTH, Texas--(BUSINESS WIRE)--Nov 19, 2020--

FTS International, Inc. (NYSE American: FTSI) (“FTSI” or the “Company”) today announced that it has successfully completed its fully consensual financial restructuring and has emerged from Chapter 11.

Michael Doss, Chief Executive Officer, commented, “Today is an important day for FTSI. We have quickly and efficiently completed our financial restructuring and emerge with sufficient cash and revolving credit capacity to deploy stacked fleets, invest in new technology, rebuild working capital and create long-term value for our stakeholders.”

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“FTSI is a leader in the pressure pumping space and with the entire organization focused on enhancing the value proposition to our customers, we will continue to set records in operational performance and attract new customer relationships. Our team and our pressure pumping fleet are well-positioned to quickly take advantage of increased customer demand as the world returns to a more normalized environment. I would like to express my gratitude to all of our employees for their dedication during this process, and thank our customers, vendors, and service providers for their continued cooperation and support.”

“The new owners, which include Amundi Pioneer Asset Management, Glendon Capital Management, Wexford Capital, and the Wilks Brothers, have deep industry experience, and understand the value of FTSI and the proposition to our customers and the industry,” continued Mr. Doss. “We expect them to be active partners, who are strongly committed to supporting our company. The proactive transaction agreed to by our equity and debt holders enhances value for all stakeholders and solidifies the company’s prospects for the future—I am proud that FTSI now has one of the cleanest balance sheets of any public, pure-play pressure pumping company.”

As previously announced, the U.S. Bankruptcy Court for the Southern District of Texas, Houston Division confirmed FTSI’s prepackaged plan of reorganization (the “Confirmed Plan”) on November 4, 2020. Pursuant to the Confirmed Plan, FTSI deleveraged its balance sheet by equitizing all prepetition funded debt, resulting in holders of FTSI’s legacy senior notes and term loan collectively holding over 90% of FTSI’s new common stock. Holders of FTSI’s legacy equity interests received approximately 9.4% of FTSI’s new common stock under the Confirmed Plan.

Upon emergence, FTSI expects to have approximately $90 million cash on hand and has entered into a new $40 million asset-based revolving credit facility with Wells Fargo Bank, N.A., as administrative agent and lender, to support working capital needs.

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Issuance of Equity and Listing on the NYSE American

In connection with emergence from Chapter 11, all of the Company’s existing equity interests will be cancelled and will cease to exist, effective before the market opens on November 20, 2020. At emergence, approximately 13,687,620 shares of new Class A common stock are outstanding, with 49 million shares authorized at emergence. Shares of the Company’s new Class A common stock will commence trading on the NYSE American under the ticker symbol “FTSI” on November 20, 2020. Additionally, at emergence, approximately 312,306 shares of the Company’s new Class B common stock are outstanding, with 1 million shares of Class B common stock authorized at emergence. Shares of the Company’s new Class B common stock are identical to the shares of the Company’s new Class A common stock, except that such shares will not be listed on any stock exchange.

In addition, 1,555,521 Tranche 1 Warrants exercisable for one share of Class A common stock per Tranche 1 Warrant were issued at emergence at an initial exercise price of $33.04, expiring on November 19, 2023 and 3,888,849 Tranche 2 Warrants exercisable for one share of Class A common stock per Tranche 2 Warrant were issued at emergence at an initial exercise price of $37.14, expiring on November 19, 2023.

Details of the restructuring, the securities issued pursuant to the Confirmed Plan and the debt and other agreements entered into as part of the Plan will be provided in a Form 8-K which can be viewed on the Company’s website or the Securities and Exchange Commission’s (“SEC”) website at www.sec.gov.

Adoption of Rights Agreement

FTSI’s Board of Directors has also approved the adoption of a stockholder rights agreement (the “Rights Agreement”) and declared a dividend distribution of one right (“Right”) for each outstanding share of common stock (both Class A common stock and Class B common stock) outstanding as of the record date. The record date for such dividend distribution is November 30, 2020. The Rights expire, without any further action being required to be taken by FTSI’s Board of Directors, on November 18, 2021.

The adoption of the Rights Agreement is intended to enable all FTSI stockholders to realize the full potential value of their investment in the company and to protect the interests of the Company and its stockholders by reducing the likelihood that any person or group gains control of FTSI through acquisitions from other stockholders, open market accumulation or other tactics (especially in current volatile markets) without paying an appropriate control premium. In addition, the Rights Agreement provides the FTSI Board of Directors with time to make informed decisions that are in the best long-term interests of FTSI and its stockholders and does not deter the FTSI Board of Directors from considering any offer that is fair and otherwise in the best interest of FTSI stockholders. Under the Rights Agreement, the rights generally would become exercisable only if a person or group acquires beneficial ownership of 20% or more of FTSI common stock in a transaction not approved by the FTSI Board of Directors.

Further details of the Rights Agreement will be contained in a Current Report on Form 8-K and in a Registration Statement on Form 8-A that FTSI will be filing with the SEC. These filings will be available on the SEC’s web site at www.sec.gov.

Kirkland & Ellis LLP and Winston & Strawn LLP acted as legal advisors, Lazard Frères & Co, acted as financial advisor, and Alvarez & Marsal North America, LLC acted as restructuring advisor to the Company. Davis Polk & Wardwell LLP acted as legal advisor, and Ducera Partners, LLC and Silver Foundry, LP acted as financial advisor for the ad hoc group of secured noteholders. Stroock & Stroock & Lavan LLP acted as legal counsel to the ad hoc group of term loan lenders.

Court filings and other documents related to the restructuring are available on a separate website administered by the Company’s claims agent, Epiq, at https://dm.epiq11.com/FTSI. For inquiries regarding the Company’s emergence, please call the hotline established by Epiq at (888) 490-0882 (toll-free in the United States and Canada) or (503) 597-5602 (outside the United States).

About FTS International, Inc.

Headquartered in Fort Worth, Texas, FTSI is an independent hydraulic fracturing service company and one of the only vertically integrated service providers of its kind in North America.

To learn more, visit www.FTSI.com

Forward-Looking Statements

This news release contains statements that we believe to be “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements other than historical facts, including, without limitation, statements regarding our future financial position, business strategy, projected revenues, earnings, costs, capital expenditures and debt levels, and plans and objectives of management for future operations, are forward-looking statements. When used in this news release, words such as we “expect,” “intend,” “plan,” “estimate,” “anticipate,” “believe” or “should” or the negative thereof or variations thereon or similar terminology are generally intended to identify forward-looking statements. Such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in, or implied by, such statements.

These risks and uncertainties include, but are not limited to: the effects of the Chapter 11 petitions (the “Chapter 11 Cases”) the effects of the Chapter 11 Cases on the Company’s liquidity or results of operations or business prospects; the effects of the Chapter 11 Cases on the Company’s business and the interests of various constituents; further declines in domestic spending by the onshore oil and natural gas industry; continued volatility in oil and natural gas prices; the effect of a loss of, financial distress of, or decline in activity levels of, one or more significant customers; actions of the Organization of the Petroleum Exporting Countries, or OPEC, its members and other state-controlled oil companies relating to oil price and production controls; the Company’s inability to employ a sufficient number of key employees, technical personnel and other skilled or qualified workers; the price and availability of alternative fuels and energy sources; the discovery rates of new oil and natural gas reserves; the availability of water resources, suitable proppant and chemicals in sufficient quantities and pricing for use in hydraulic fracturing fluids; uncertainty in capital and commodities markets and the ability of oil and natural gas producers to raise equity capital and debt financing; potential securities litigation and other litigation and legal proceedings, including arbitration proceedings; the Company’s ability to participate in consolidation opportunities within its industry; the ability to successfully manage the economic and operational challenges associated with a disease outbreak, including epidemics, pandemics, or similar widespread public health concerns, including the COVID-19 pandemic; the ultimate geographic spread, duration and severity of the COVID-19 outbreak, and the effectiveness of actions taken, or actions that may be taken, by governmental authorities to contain such outbreak or treat its impact ; the ultimate duration and impact of geopolitical events that adversely affect the price of oil, including the Saudi-Russia price war earlier this year; and a deterioration in general economic conditions or a weakening of the broader energy industry. We assume no obligation, and disclaim any duty, to update the forward-looking statements in this news release.


View source version on businesswire.com:https://www.businesswire.com/news/home/20201119006212/en/

CONTACT: Lance Turner

Chief Financial Officer

817-862-2000

KEYWORD: UNITED STATES NORTH AMERICA TEXAS

INDUSTRY KEYWORD: ENERGY NATURAL RESOURCES MINING/MINERALS OIL/GAS

SOURCE: FTS International, Inc.

Copyright Business Wire 2020.

PUB: 11/19/2020 02:47 PM/DISC: 11/19/2020 02:47 PM

http://www.businesswire.com/news/home/20201119006212/en

One trade AH's...Back in for play #2 $FTSI

This could double+ real quick

FTSI completes financial restructuring.

Thank Dino,

good to know.

Bond holders converted at $9.00. I was talking to someone, they said fair value to be between 12 dollars.

Premarket is + 87 % with half the monthly average volume.

I' ve done my personal DD and the fair value for the new FTSI, the restructured one, is around 8 $. The Ceo has restructured the debts due to in 2022, yes 2022, with the involvement of suppliers so the stakeholders is more stable and will continue to run the company.

This is not really a bankruptcy but a good reorganization.

FTSI and shareholders will survive stronger than ever.

As of June the 30th we have "Cash and Cash Equivalents" for
192,500 $$$$$. Not bad.

IMHO.

Virtually now, no more debt, plus over 120 million in cash. This is going to breakout tomorrow just like ALTM did today, volume comes in on this low floater, it will be monster ride up North, watch for volume. Anything over 300,000 shares premarket it will run for the rest of day.

This could run tomorrow like ALTM did today.

I got what I could now sitting on decent amount of shares, expecting a run to the teens at least tomorrow.

Book value was 36 dollars, this has a lot more room to run. Could easily hit 30 dollars early next week.

Easy 15 dollars tomorrow and possibly even higher, no more debt.

After election
Boom!

This may really move

CHAP is overvalued and lots of debt

Hi Dino...any thoughts on CHAP?

Not recognized, thus under the radar, plus oil sectors are down, once oil recovers so will this one.

https://finance.yahoo.com/news/fts-international-inc-announces-one-180000525.html

why no volume? https://ih.advfn.com/stock-market/NYSE/fts-FTSI/historical

https://www.finviz.com/quote.ashx?t=ftsi

There is no other undervalue oil stock out there, this is the best value play, it should be valued at 80 dollars once oil reaches 50 dollars.

One of the finest assets and beautiful set up on this low floater.


https://finance.yahoo.com/quote/FTSI/key-statistics?p=FTSI

Was there a R/S on this stock?

FTSI Daily Chart broke out above the upper Bollinger Band...Looking for a continuance next week

* * $FTSI Video Chart 04-24-2020 * *

Link to Video - click here to watch the technical chart video

Up 110% in pre-market.

* * $FTSI Video Chart 04-23-2020 * *

Link to Video - click here to watch the technical chart video

* * $FTSI Video Chart 04-09-2020 * *

Link to Video - click here to watch the technical chart video

Daily videos on a board with 8 posts? Yo no comprendo...?

I know I used to give you crap years ago but I now appreciate your posts and admire your dedication Clay.
I've found it economically rewarding to watch approximately 100-150 tickers almost religiously and react when I see fit. I'm killing it now because of using simple techniques that work for me. Up 400k this year and I'm building 3 massive homes under contract too. It's been a fun 45 days!

* * $FTSI Video Chart 02-18-2020 * *

Link to Video - click here to watch the technical chart video

* * $FTSI Video Chart 02-14-2020 * *

Link to Video - click here to watch the technical chart video

Set a bid for 1.10 and it took while I was paddling...lets see if I can pull another .45 cents plus. fundamentals are still there after the dust settles. Probably could have waited but...eh gotta play for pay!

$FTSI: Guess so.....


Took profits...... gonna get in it again.


Still has to get to $3



GO $FTSI

Guess that's it?

$FTSI: Made you some money.........


Makes me happy.


Enjoy the winnings !



GO $FTSI

Thanks for the heads up on this yesterday!

hold on tight ladies and gents. We go much higher from here.

$FTSI: Beasting now......... $1.50


1/2 way to $3


It can do it !



Easy 3bags !


GO $FTSI

$FTSI: NEWS... Stifel-Nicolaus Upgrades to BUY... $3 PriceTarget

I guess they read my mind !


EASY MONEY HERE !!!!!!


GO $FTSI

Agreed!! Let’s Go!!

* * $FTSI Video Chart 02-13-2020 * *

Link to Video - click here to watch the technical chart video

IPO 2018 was $18

IPO last year was at $18.

NEWS/EARNINGS:

Fourth Quarter 2019 Compared to the Third Quarter 2019

Revenue was $142.3 million, down from $186.0 million
Net loss was $13.0 million, down from loss of $10.8 million
Earnings per share of $(0.12), down from $(0.10)
Adjusted EBITDA was $22.7 million, up from $20.6 million
Adjusted EBITDA per average active fleet was $5.5 million on an annualized basis, up from $4.2 million
Ahead of schedule on achieving annualized cost savings target of $40 million
Full Year 2019

Revenue was $776.6 million and net loss was $72.9 million or $(0.67) per share
Adjusted EBITDA was $124.6 million or $6.5 million per average active fleet
Net cash provided by operating activities of $123.9 million less capital expenditures of $54.4 million resulted in free cash flow of $69.5 million
Free cash flow, including asset disposal and joint venture sale proceeds of $34.0 million, was $103.5 million
Operational Update

Average active fleets during the fourth quarter 2019 was 16.5, down from 19.8 in the third quarter 2019. The Company exited the fourth quarter 2019 with 16 active fleets and has 17 fleets active today.

FTSI completed 6,346 stages during the fourth quarter 2019, or 385 stages per active fleet. This compares to 7,050 stages in the third quarter 2019, or 356 stages per active fleet.

Michael Doss further commented, "The increase in stages per fleet was accomplished despite more white space in the calendar than usual. Our crews relentlessly push for new records every day, and in the fourth quarter they gave us the highest average pumping hours per day and stages per fleet in our company’s history. Nonetheless, I expect to see further increases in efficiencies in 2020 as the amount of white space is reduced to a more normalized level."

Liquidity and Capital Resources

Capital expenditures were $14.9 million in the fourth quarter and $54.4 million in 2019.

At December 31, 2019, FTSI had $456.9 million of long-term debt and $223.0 million of cash. Net debt, which excludes unamortized discount and debt issuance costs, was $236.9 million at December 31, 2019. Additionally, at year end, total liquidity was $278.9 million, including $55.9 million of availability under the Company’s revolving credit facility. During the fourth quarter 2019, the Company had no borrowings outstanding under its revolving credit facility.