Business Context and Reporting Period
This Form 8-K is filed by Halcón Resources Corporation (not Battalion Oil Corp) for the reporting period of April 6, 2017. The filing addresses a corporate event regarding the conversion of preferred stock.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on a capital structure event.
Material Changes
- Stock Conversion: On April 6, 2017, all outstanding shares of 8.0% Automatically Convertible Preferred Stock automatically converted into common stock.
- Conversion Ratio: Each share of preferred stock converted into 10,000 shares of common stock.
- Volume: The conversion involved 5,518 shares of preferred stock (previously issued on March 3, 2017).
- Outstanding Balance: Following this event, no shares of preferred stock remain outstanding.
Guidance, Outlook, and Risks
The filing contains no management guidance, outlook, or discussion of risks. It notes that the preferred stock was issued via a private placement to accredited investors under Section 4(a)(2) of the Securities Act.
Investor Verification Checklist
- Verify the total number of common shares issued resulting from the conversion of 5,518 preferred shares.
- Confirm the updated total share count and potential dilution impact on existing common shareholders.
- Review the March 3, 2017 Form 8-K for details on the original private placement terms.