Bristow Group Inc (VTOL) オプション

Mdim could you explain what that 8k is saying? Do bond holders get shares and are commons getting new shares as well?
$535m is going to who exactly?

Chapter 7 is the next stage for BRS.

BRSWQ: Bankruptcy PLAN effective. All shares cancelled.

https://otce.finra.org/otce/dailyList?viewType=Deletions

“The consummation of the Plan will be subject to the satisfaction or waiver of several conditions, including completion of the equity rights offering”

Equity rights offering is brswq commons. It’s in the wording of how anyone person perceived what’s the above statement means.
(Satisfaction or waiver)
Doesn’t say wiped

Based on the Reorg. plan, the current Commons will be Wiped out and new shares will be issued:

"Under the terms of the approved Plan, at emergence the Company will receive $535 million of new capital from a majority of Bristow's secured and unsecured noteholders: (i) $385 million through an equity rights offering, and (ii) Bristow's $150 million debtor-in-possession loan, which was funded in August 2019 and will convert into new equity of the reorganized Company at emergence. "

That's Why the current common shares are being pouring out in any levels, because they're going to Zero shortly.

Disaster!

Mdim is going to have to answer. I don’t know. But it’s says equity offering is $385m dollars and loan is $150m dollars, for the total of $535m dollars.
My math;)..... would take $385m dollars divided by the 35.6m shares, but that would be almost $11/sh so who knows

Anything left for common shareholders, or wiped get wiped out?

$385m equity rights offering completed by October 31,2019

News - Bristow Group's Plan Of Reorganization Confirmed By Court
Company expects to consummate its reorganization by October 31, 2019

Upon emergence, the Company will be a privately held, better capitalized global company with a total of $535 million of new equity capital and strengthened liquidity

NEWS Link:
https://www.prnewswire.com/news-releases/bristow-groups-plan-of-reorganization-confirmed-by-court-300932727.html

Bristow Group Inc.
Oct 07, 2019, 07:00 ET

SHARE THIS ARTICLE


HOUSTON, Oct. 7, 2019 /PRNewswire/ -- Bristow Group Inc. (OTC: BRSWQ) ("Bristow" or the "Company") today announced that on October 4, 2019, the U.S. Bankruptcy Court for the Southern District of Texas confirmed the Company's Amended Plan of Reorganization (the "Plan") and indicated that it will enter a written order to this effect. The Company expects to consummate its financial restructuring process and successfully emerge from Chapter 11 by October 31, 2019.

Upon emergence as a privately held Company, Bristow's largest owners are expected to be affiliates of Solus Alternative Asset Management LP, South Dakota Investment Council, Empyrean Capital Partners, LP, Bain Capital Credit and Oak Hill Advisors, who are expected to own in excess of 50% of Bristow's equity collectively, with the remaining equity held by other secured creditors and unsecured noteholders.

Under the terms of the approved Plan, at emergence the Company will receive $535 million of new capital from a majority of Bristow's secured and unsecured noteholders: (i) $385 million through an equity rights offering, and (ii) Bristow's $150 million debtor-in-possession loan, which was funded in August 2019 and will convert into new equity of the reorganized Company at emergence.

L. Don Miller, President and Chief Executive Officer of Bristow, said, "Achieving Plan confirmation is an important milestone that comes less than five months after we initially filed Chapter 11. As a reorganized Company, we will emerge a stronger, well capitalized global organization with an industry-leading balance sheet and strong liquidity. I commend the entire global Bristow organization for working diligently to navigate the restructuring process while flying safely and continuing to provide exceptional client service. I also express my gratitude to our clients for their continuing confidence in Bristow during this process. We look forward to continuing to work with our new owners, who have been very supportive of our global team and greatly value our market leading position."

The consummation of the Plan will be subject to the satisfaction or waiver of several conditions, including completion of the equity rights offering.

The full terms of the Plan and Disclosure Statement, as well as the related pleadings, are available online at: https://cases.primeclerk.com/Bristow.

Baker Botts L.L.P. and Wachtell, Lipton, Rosen & Katz are serving as the Company's legal counsel and Alvarez & Marsal is serving as the Company's restructuring advisor. Houlihan Lokey is serving as financial advisor to the Company.

The supporting unsecured noteholders are represented by Kirkland & Ellis LLP as legal counsel, Ducera Partners as financial advisor, and Seabury Group as restructuring advisor.

The supporting secured noteholders are represented by Davis Polk & Wardell LLP and Haynes & Boone LLP as legal counsel and PJT Partners as financial advisor.

About Bristow Group Inc.
Bristow Group Inc. is the world's leading industrial aviation service provider offering helicopter transportation, search and rescue (SAR) and aircraft support services to government and civil organizations worldwide. Bristow's strategically located global fleet supports operations in the North Sea, Nigeria and the U.S. Gulf of Mexico; as well as in most of the other major offshore oil and gas producing regions of the world, including Australia, Brazil, Canada, Guyana and Trinidad. Bristow provides SAR services to the private sector worldwide and to the public sector for all of the U.K. on behalf of the Maritime and Coastguard Agency. To learn more, visit our website at www.bristowgroup.com.

Contact:
Global Media Relations
Adam Morgan
Director, Global Communications
+1 832.783.7927
Adam.morgan@bristowgroup.com

Reevemark
Paul Caminiti/Hugh Burns/Delia Cannan
+1 212.433.4600
BristowGroup@reevemark.com

Investor Relations
Linda McNeill
Director, Investor Relations
+1 713.267.7622
Linda.mcneill@bristowgroup.com

SOURCE Bristow Group Inc.


Related Links
http://www.bristowgroup.com

https://www.afr.com/street-talk/auction-underway-for-bankrupt-bristow-group-s-australian-airline-20190805-p52dul

Bristow being forced to sell?

That 8k looks like common might get something after all

Commons get nothing. Also from what I understood unsecured debt holders get nothing.

$BRS will fail once it comes out of Chapter 11. Its going to be a long down cycle for them.

Mdim you read that?
Do shareholders get warrants?
8 k out shows $1.6b on June 30,2019.
Don’t know on bonds, but looks like commons get something here

I don’t get how they can file chapter 11, with only part of the company. Some assets were not included.

Miserable! The Common shares will be Cancelled and the non-secured stakeholders will get Nothing.

Sooner, the stock will be Wiped out !

https://www.sec.gov/Archives/edgar/data/73887/000119312519202795/d780593dex101.htm


What do you think of this amendment?

I agree with you. Read whi the agreement said can be the only recipients of the money.... lawyers and the Wall Street companies. These guys are never known to work for shareholders. It's a waste of time IMO

Not sure why the adhoc equity committee would accept the agreement to receive $200k monthly per the stipulation. Wouldn’t it have been better to have an official EC? At least an official EC would be recognized by the court and be free to push for discovery, valuation, etc. without undue restrictions, and management would have to engage with them. With this stipulation, it seems to me like the adhoc professionals are only looking out for themselves. I hope I’m wrong though

8-k out. It states: "the existing equity interests in the Company will be cancelled and discharged;"

https://www.otcmarkets.com/filing/html?id=13514296&guid=SKLxUaJGstRw8th

Too Bad.

Thanks mdim.
I still can’t believe chapter 11 when the whole company wasn’t included. Meaning, common shares still have to have some value, because eastern airlines was excluded. I think we see some value with the equity committee being formed since there are many institutional holders.
Also got lucky to pick up many 0.05’s.

Since you and I first started discussing $BRS the company went changed CEO, CFO, appointed new BOD members, defaulted on their debt, and filed Chapter 11. In those few months current shareholders have not seen any fundamental upside to their investment. If one were to day trade $BRS / $BRSWQ the possibility to make good money existed.

My guess is post -Chapter 11 $BRS will continue to fall in share price. Management made a mistake by wiping out their shareholder base for several reasons:
- no-one will support the stock
- no small shareholders will be an effective ambassador for the company
- most of those who have been burned will not return
- on a longer term basis, even large shareholders were burned through corporate mismanagement. Now extend that to the mismanagement of equity holders in Chapter 11

Both with respect to the voting machine and the weighing machine $BRS management and then-$BRS shareholders will get what they deserve.

Why would Mary, the VP of Human Resources buy $8.13 (50 shares)????and we get a filing for that shit lol
Plus a string of S8’s of common shares going to employees?
Chapter 11 rules sure are screwy

There is no equity committee, however there is a petition for one to be formed.

So far $BRSWQ shareholders have nothing.

https://cases.primeclerk.com/Bristow/Home-DownloadPDF?id1=MTE0MzA3MA==&id2=0

Anybody have the cliff notes?

Looks like someone sold 275k sh at 0.35.

BRSWQ. 35 +59%

Honda you watching this?

We own eastern airways
So are they not included under chapter 11?

Marching higher

Great news! BP is one of the largest oil companies in the world.

Bristow Secures Contract with BP plc

2019-05-31 11:29 ET - News Release


- Bristow awarded five-year contract to support BP's North Sea operations
- New jobs created to deliver contract out of Aberdeen and Sumburgh
- Bristow and Eastern Airways will provide a fully integrated aviation solution

HOUSTON, May 31, 2019 /PRNewswire/ -- Bristow Group Inc. (OTC:BRSWQ) today announced a new contract with BP plc, to support its North Sea operations. The contract, with a five year primary term, commenced on May 13, 2019.

Bristow will deliver a fully integrated aviation solution to BP plc from bases in Aberdeen and Sumburgh. New pilot and crew positions are being created, with existing Sikorsky S-92s utilized combined with fixed-wing support provided through Eastern Airways, to deliver the contract.

"We recognize BP plc has placed its trust and confidence in Bristow and we are committed to maintaining the highest safety standards every day and at all times, while delivering an efficient and best-in-class solution to help BP achieve their business objectives," said Matt Rhodes, Director UK & Turkmenistan Oil and Gas.

"This award further builds on Bristow's success in the region, adding to two additional long-term contracts recently secured operating from our Aberdeen hub."

News out, secures contract with BP

BRSWQ. 20 nice setup

Somebody bought 145,000 shares @0.21

Yes from what it reads, they are definitely a going concern.

Just parts of Bristow filed for chapter 11....never knew corporations could do that.
So the parts that are not under chapter 11 protection have value, how much is the question. I bet there were several institutions with averages over $20. How much of that $27/sh is not under chapter 11?

Set to run

Insiders own the most and aren't going to sell for anywhere under $1.

Yep.
70% gain yesterday
Every trader and mm was flipping for long weekend money.
At least 40 cents next week I think
Goodluck

This is a true bargain here, next Tuesday people will be chasing it.

15 Mllion shares bought at $0.05 Must be Dumping by pumping!!! Be very careful!

Interesting

Worthless and yet still going up daily. Hmm interesting goings on here. Do we have an equity committee in the offing ?

Take a look at this:

2019-05-15, BRSWQ, $0.055, Volumes: 15,075,914 shares

Then those guys who got in cheap at $0.05 have 300% gains now.

LOL!

This for sure.
if a equity committee is formed
I don't know that portion of the law.
How can they file for chapter 11 protection when it is only for certain entities and not the whole company
Not sure. There's a lot which isn't known, among them the size of the mark-to-market write downs of the owned helicopters, any litigation, and if anything else is left.
they will find value.

So is Bristow claiming that common shares are worthless?
How can they file for chapter 11 protection when it is only for certain entities and not the whole company?
I’m thinking if a equity committee is formed, they will find value, because of this.

Out from .06 to .13 for 100% + gain. Nice bounce!

Hope so. Needs to clear .13 and .14 now.

Can this kitty bounce into folding money?

Bristow showing us that dead cat bounce. Hoping for more tomorrow

My Top OTC Penny Stocks to Watch on 5.21.2019

Ticker Symbols: #CRSM #SOAN #BRSWQ #TTCM #DNRG #UNVC #CNNA

https://www.transparenttraders.me/2019/05/my-top-otc-penny-stocks-to-watch-on.html

BRS was $18.91 in May, 2018, LOL! Now, $0.09, Amazing 'run'!!!