UPDATE: Clean Diesel Technologies (CDTI) Triggers LUDP Amid 13D Filing
- Wall Street falls as investors ready for Trump's inauguration
- IBM (IBM) Tops Q4 EPS by 13c, FY17 EPS Guidance Beats Consensus
- American Express (AXP) Misses Q4 EPS by 7c, FY17 EPS Guidance Tops Views at Mid-Poinit
- Skyworks Solutions (SWKS) Tops Q1 EPS by 3c, Offers Q2 Guidance, Announces Buyback
- After-Hours Stock Movers 01/19: (SWKS) (QRVO) (NVAX) Higher; (AFMD) (SGYP) (IBM) Lower (more...)
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.
(Updated - September 6, 2016 3:04 PM EDT)
Clean Diesel Technologies (NASDAQ: CDTI) triggers limit-up, limit-down trading pause.
UPDATE - Kanis S.A. filed a 13D with the U.S. SEC today. In part, the filing read:
Item 3. Source and Amount of Funds or Other Consideration
As of August 30, 2016, Kanis S.A. acquired 4,872,032 shares of the Issuer’s Common Stock (the “Subject Shares”) in exchange for outstanding promissory notes and other evidences of debt (the “Kanis Notes”) in the aggregate principal amount of $7,500,000 plus $400,000 in accrued but unpaid interest thereon through and including August 30, 2016 (the “Kanis Indebtedness”). The number of shares of Issuer’s Common Stock issuable to Kanis S.A. was determined by dividing the Kanis Indebtedness as of the date of the exchange by $1.6215.
Item 4. Purpose of Transaction
By converting the Kanis Notes into the Subject Shares, the Reporting Person provides the Issuer with an opportunity to significantly reduce the debt on its balance sheet and simplify its capital structure to support the Issuer’s path to profitability. The Reporting Person wishes to assist the Issuer to increase the Issuer’s financial strength by reducing the outstanding debt and enhancing its ability to invest its available cash in operating activities.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- TAC Capital Files 13D on Bravo Brio Restaurant (BBRG); Adam Nominates 3 to Board
- Bill Barrett Corporation (BBG) Entered Confidentiality Agreement with Bonanza Creek Energy (BCEI) Pertaining to BCEI's Chapter 11 Proceeding
- Asta Funding, Inc. (ASFI) Commences 5.3M Share Tender Offer for Its Common Stock
Create E-mail Alert Related Categories13Ds, Trader Talk, Trading Halts
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!