CHK overhang ...... Is Chessie on 'sale' now ???????? .. Former Bondholders selling 1/3 of common fl | CHK Message Board Posts


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Msg  75331 of 75744  at  6/4/2021 10:00:35 AM  by

clambo


CHK overhang ...... Is Chessie on 'sale' now ???????? .. Former Bondholders selling 1/3 of common float ......

 Multiple former Bondholders , now common shareholders are selling off shares ... Some are selling all of their holdings some are selling only a small percentage of their holdings .... 
 Total shares being offered by these Institutions amount to 37 million shares .. CHK now has only 97 million shares outstanding , so nearly 1/3 of its float needs to be absorbed before things return to 'normal '''''' 
 
CHK receives NOTHING on this share offering , the Institutions will cash out wholly or partially depending on their individual needs ... This 37 million share sale will take awhile thru achieve without killing share price ...... 
 Is CHK on sale due to this situation ???? Is CHK a hold while this sale goes thru ???? 
 
This prospectus covers the offering for resale of up to an aggregate of 37,826,511 shares of Common Stock (including 1,017,201 shares of Common Stock underlying Warrants), 1,188,341 Class A Warrants, 1,236,148 Class B Warrants and 1,485,091 Class C Warrants that may be offered and sold from time to time under this prospectus by the selling stockholders identified below, subject to any appropriate adjustment as a result of any stock dividend, stock split or distribution, or in connection with a combination of shares, and any security into which such shares of Common Stock and Warrants shall have been converted or exchanged in connection with a recapitalization, reorganization, reclassification, merger, consolidation, exchange, distribution or otherwise.
The selling stockholders acquired the shares of Common Stock and Warrants offered hereby either in connection with our emergence from bankruptcy on February 9, 2021 or in open market purchases. On February 9, 2021, we entered into the Registration Rights Agreement with the selling stockholders pursuant to which we were obligated to prepare and file a registration statement to permit the resale of certain shares of Common Stock and Warrants held by the selling stockholders from time to time as permitted by Rule 415 promulgated under the Securities Act of 1933, as amended (the “Securities Act”).


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