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Ring Energy Update - Oct 24
Posted: Thu Oct 24, 2024 4:02 pm
by dan_s
I heard today that Warburg Pincus sold their stake in REI to BlackRock. This is very good news.
Re: Ring Energy Update - Oct 24
Posted: Mon Oct 28, 2024 4:23 pm
by knusser58
Hi Dan,
is this purchase buy BlackRock confirmed?
This reduce the selling pressure and Blackrock would now own about 28% of REI.
Regards,
Klaus
Re: Ring Energy Update - Oct 24
Posted: Mon Oct 28, 2024 6:31 pm
by dan_s
I was told about it by one of our members in NYC that owns a lot of REI.
Re: Ring Energy Update - Oct 24
Posted: Mon Oct 28, 2024 8:23 pm
by knusser58
Thank you Dan
Re: Ring Energy Update - Oct 24
Posted: Tue Oct 29, 2024 4:48 am
by cmm3rd
Based on SEC filings on 9/18 and 10/8, it appeared that as of 10/8, Warburg’s holdings were down to 35.5 million shares.
A 13G filed on 10/24 reports that BlackRock owns 10.9 million shares (5.5%) with a “date of event” being reported as 9/30/24.
PR issued 10/28 said Ring will report Q3 after close on 11/6 with a call on 11/7. No mention of the Warburg holding or transaction,
I would think that an SEC filing of some sort would have to occur (unsure within how many days of the transaction) reporting Warburg’s sale of its remaining shares to BlackRock, if such occurred. The 10/24 13G mentioned above would seem unhelpful to confirm Dan’s report.
Is it possible that the source of the report (which Dan first posted on 10/24) saw the 13G filed on 10/24 and thought (mistakenly) it meant that Warburg had sold all of its remaining stake to BlackRock?