Dynegy Inc. (NYSE:DYN) [Trend Analysis] plunged reacts as active mover, shares a decrease -0.48% to traded at $12.55 and the percentage gap among open changing to regular change was 0.00%. Dynegy Inc. (DYN) has entered into a restructuring support contract (RSA) with Illinois Power Generating Firm (Genco) and an ad hoc group (Ad Hoc Group) of Genco bondholders to restructure $825 million in unsecured debt at Genco.
Key terms of the support contract, filed separately in an 8-K, include: $825 million in existing 2018, 2020 and 2032 Genco notes to be exchanged for: $210 million in new 7-year Dynegy Inc. unsecured notes with terms and covenants consistent with existing Dynegy Inc. unsecured bonds due 2023. The $139 million cash consideration, comprising a $9 million RSA payment discussed below, funded with existing Illinois Power Holdings cash balances and collateral synergies. The 10 million Dynegy Inc. warrants with a 7-year tenor and strike price of $35 per share The firm’s current ratio calculated as 3.30 for the most recent quarter. The firm past twelve months price to sales ratio was 0.35 and price to cash ratio remained 1.32. As far as the returns are concern, the return on equity was recorded as -40.10% and return on investment was 5.50% while its return on asset stayed at -8.20%. The firm has total debt to equity ratio measured as 4.60.
MGT Capital Investments, Inc. (NYSE:MGT) [Trend Analysis] attempts to attain leading position in street, Shares price changes as it 14.01% to close at $2.40 with the total traded volume of 17.28 Million shares. Pomerantz LLP reported that a class action court case has been filed against MGT Capital Investments, Inc. (NYSE MKT:MGT) and certain of its officers. The class action, filed in U.s.District Court, Southern District of New York, and docketed under 16-cv-07449, is on behalf of a class consisting of all persons or entities who purchased or otherwise takeoverd MGT securities among May 9, 2016 and September 20, 2016 both dates inclusive.
This class action seeks to recover damages against Defendants for claimed infringement of the federal securities laws under the Securities Exchange Act of 1934. On May 9, 2016, MGT reported that it had entered into a definitive asset purchase contract to takeover certain assets and technology from D-Vasive Inc., a provider of anti-spy software.
In conjunction with the transaction, MGT reported the proposed appointment of Defendant John McAfee as the Firm’s Executive Chairman and Chief Executive Officer, and that the Firm intended to change its corporate name to John McAfee Global Technologies, Inc. MGT additional advised investors that “[m]ajor terms of the accord include the payment to D-Vasive Inc. stockholders of 23.8 million restricted shares of MGT stock and $300,000 in cash. The firm has institutional ownership of 21.20%, while insider ownership included 5.30%. Its price to sales ratio ended at 808.80. MGT attains analyst recommendation of 2.00 with week performance of 60.00%.