LINN Energy (LINE) Files IPO Registration Statement w/ SEC for LINN Co. (LNCO)
- Top 10 News for 4/13 - 4/17: China Regulation, Greek Debt Rattle Markets; Netflix Rockets on Results; M&A News, Rumors Abound
- U.S. Antitrust Lawyers May Move to Block Comcast (CMCSA), Time Warner Cable (TWC) Deal
- Teva (TEVA) Said Considering Bid for Mylan (MYL)
- General Electric (GE) Tops Q1 EPS by 1c
- Stock Futures Deep in the Red
LINN Energy, LLC (Nasdaq: LINE) reports that Linn Co, LLC (Nasdaq: LNCO), a wholly-owned subsidiary of LINN has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission ("SEC") relating to its proposed initial public offering of common shares. LinnCo has elected to be taxed as a corporation, and accordingly, its shareholders will receive a Form 1099 in respect of any dividends paid by LinnCo. The net proceeds from the offering will be used to acquire a number of LINN units equal to the number of LinnCo shares sold in the offering. LinnCo will have no assets or operations other than related to its ownership of LINN units. LINN expects to use the proceeds it receives from the sale of LINN units to LinnCo for general corporate purposes, including financing its acquisition strategy, repaying debt and paying the expenses of the offering. Application will be made to list the common shares of LinnCo on the NASDAQ Global Select Market, under the symbol "LNCO." LINN has filed a "no-action" letter request with the SEC seeking confirmation that LinnCo will not be required to register as an investment company under the Investment Company Act of 1940, and the offering is conditional, among other things, on the receipt of such letter.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- ZBB Energy (ZBB), Solar Power Announce Strategic Partnership
- ERBA Diagnostics (ERB) to Delay 10-K Filing; Notes Continued Trouble Completing Financial Statements
- Notable Mergers and Acquisitions 4//15: (NOK)/(ALU) (DK)/(ALJ) (OTIV)
Create E-mail Alert Related CategoriesCorporate News, IPOs
Related EntitiesDividend, S1
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!