Castle AM and Company (CE) (CTAM) Quote

CTAM: effective May 15,2023 Cash Merger. CTAM shareholders will receive $0.10 in cash for every one (1) share of CTAM held.

FINRA will delete the symbol.

https://otce.finra.org/otce/dailyList?viewType=Deletions

CTAM: effective Dec. 30,2020 a one for 10 reverse split:

https://otce.finra.org/otce/dailyList?viewType=Symbol%2FName%20Changes

Castle A M & Co.: effective Sept. 8,2017 will begin trading on the OTC with a new ticker, CTAM:

http://otce.finra.org/DLAdditions

UPDATE!!! This is what Chris Donovan sent in the reply email.

"Mechanisms for trading to begin are in process and really up to the various institutions that control that process such as DTC. So, we do not have a definitive answer on when it will start but we would expect relatively soon in near term. The expectation is that it will continue to trade on the OTC (ticker TBD).



For each equity holder that didn’t opt out, they will get approximately 1.25 shares of new equity per 100 shares of old equity. Further information on the new equity below:"

I didn't add the end but basically it was how new shares was being issued and to whom. He also stated that they will be releasing an official report in a few days.

Needless to say I guess we are f#@$d, unless this stock end up trading at $10 by year end, but I doubt it if it stays off the major exchanges.

Thank you for sharing this info. Look forward to hearing their response.

Tdameritrade states that on 8/24 they were given a conversion rate of .123716 for every 1 share of old. So I feel confident the old shares are not worthless, unless something changed in the last few days leading up to the emergence date, which I highly doubt since no new amendments had been filed with the SEC. Now another important detail found in the Restructure plan was that in May 2017 in the Amended plan, they deleted the statement of listing their new shares on NYSE or Nasdaq. Now the million dollar question is, if there is no exchange that these shares are listed on, then how can they be traded and at what value? I have sent an email to Castle's investor relations this morning and hoping to hear from them by the end of the day to see if they can give some kind of time frame when the conversion will take place and when they think they will push for a new ticker symbol and any other information they have that pertains to new common shareholders. Hopefully, I hear back from them before the holiday weekend. I will let you guys know what I find.

IHUB-Admins:Delete the whole board and the CEO too,please....

Np matey. KEG (from KEGXQ) was another one, if you're looking to do some studying :)

Interesting. Thank you for posting.

Good post, to which I agree.

CASLQ: Shares Cancelled; Holders shall receive its Pro Rata share of 20.0% of the New Common Stock of Reorganized Parent.

FINRA deleted symbol at 13:43 P.M.

http://otce.finra.org/DLDeletions

That's not how it works. Look at UPLMQ (now UPL). Commons in UPLMQ received a stake in the new UPL, probably something similar to 20%. The 80% loss that you are imagining is offset by losing the Q symbol and returning from the OTCs to the Nasdaq.

I have no position here. I don't know enough about the company to be bullish or bearish. But just wanted to clear up that point. Commons getting a 20% stake is a pretty good deal as far as bankruptcy proceedings go. More often than not, commons are completely wiped out.

Perhaps I will go down in history for this. I had the distinct honour (and frankly good ****ing luck) to get the very last ever order (it was a sell) of CASLQ.

Thanks. Glad I sold.

Common shares cancelled

Was this halted?

CASLQ: Ceo Thanking all the ones joining Uranus...lol...

Fuh Q Qs

CASLQ: http://archive.fast-edgar.com//20170831/AMZGK222D222C2R2222J22Z2CA8RZ22H2292/

CASLQ: Commons cancelled.lol.Nice management.lol
Was fun to flip your pos with a POR right in the middle of a trading day

CASLQ: Testing that .10 during lunch time

WOW how low can it go.

True! I guess PR sounded good!

CASL: Lol.Following the effective date of our Plan the PR said and many other things in that PR also

CASLQ: Thanks for the shares under the bid to the MMs here.lol

Why would anyone be adding??
All common shares are to be cancelled and reissued at 20%
You're adding to take an 80% loss??

Am I missing something?

Added more

Gonna be huge IMO

CEO "This milestone is a testament to the hard work of our employees and our leadership team, as well as the confidence of other stakeholders, all of whom reaffirmed their overwhelming belief in Castle's value proposition throughout the process.

A.M. Castle Completes Financial Restructuring, Emerges From Chapter 11
Globe Newswire  
August 31, 2017 11:00am  

OAK BROOK, Ill., Aug. 31, 2017 (GLOBE NEWSWIRE) -- A.M. Castle & Co. (OTC:CASLQ) (the "Company" or "Castle"), a global distributor of specialty metal and supply chain solutions, today announced that it has emerged from its voluntary chapter 11 proceedings before the United States Bankruptcy Court for the District of Delaware commenced on June 18, 2017. Having successfully restructured its balance sheet and substantially reduced its debt burden and interest costs under its Amended Prepackaged Joint Chapter 11 Plan of Reorganization, the Company is now poised for growth.

President and CEO Steve Scheinkman commented, "Today, A.M. Castle celebrates a proud step forward that marks a new beginning for our Company. We have successfully and expeditiously completed our financial restructuring, positioning Castle for growth and enabling us to serve our customers and partner with our suppliers more efficiently than we have in the past few financially-challenged years. As anticipated, we have significantly reduced our debt burden and interest expense and now possess a balance sheet competitive to others in the metals service center industry, enabling us to focus on compelling growth opportunities across our business by creating even more value for our customers and supplier partners. Equally important, we will also plan to make investments back into Castle to ensure we remain a Company that attracts and builds a robust talent base and fulfilling careers for our employees."

Scheinkman continued, "This milestone is a testament to the hard work of our employees and our leadership team, as well as the confidence of other stakeholders, all of whom reaffirmed their overwhelming belief in Castle's value proposition throughout the process. Many companies have crumbled under similar circumstances, but Castle has grown. Rumors of our demise were greatly exaggerated, and now, with one of the most competitive balance sheets in the industry, we look forward to regaining our leadership position. Moving forward, we will build on this success by focusing on developing our business, driving innovation for our customers, empowering our branches, and renewing our commitment to our employees and our culture."

Executive Vice President and Chief Financial Officer Patrick Anderson commented, "As previously announced, our financial restructuring has markedly reduced our debt and interest expense. Following the effective date of our Plan, our initial annual cash interest expense will be approximately $4 million. Further, even including interest on the new convertible debt held primarily by our shareholders, which will initially be paid "in-kind," our total yearly interest expense has decreased by nearly 70%, from approximately $36 million per year prior to the restructuring. With this new, improved balance sheet, we will be able to invest further in both organic and strategically acquired revenue growth, capital investments, and innovation for our customers."

Scheinkman concluded, "This journey has been a long one for our employees, our leadership, and all of our stakeholders. We sincerely thank everyone involved for their belief and support through this process. We are excited about what the future holds for Castle and all of our stakeholders with this restructuring now complete."

I am in FWIW! this could go!

Everyone should do their own DD on Today's News!

Wakey wakey eggs 'n bakey:)

I'm in

old common shares will be cancelled and company will issue new shares on a 20% basis.


https://globenewswire.com/news-release/2017/06/19/1025742/0/en/A-M-Castle-Co-Commences-Voluntary-Chapter-11-Case-and-Files-Prepackaged-Joint-Chapter-11-Plan-of-Reorganization.html

Loaded some.

WOW HUGE NEWS!!! GOING BACK TO DOLLARLAND!!

I'm in!

https://www.benzinga.com/pressreleases/17/08/g10002261/a-m-castle-completes-financial-restructuring-emerges-from-chapter-11

CASL: effective July 26,2017 CASL will change to CASLQ, bankruptcy:

http://otce.finra.org/DLSymbolNameChanges

CHAPTER 11

https://www.stockwatch.com/News/Item.aspx?bid=U-z6825474-U%3aCASL-20170619&symbol=CASL®ion=U

Wow, thats was potentially a HUGE write-off for Raging Capital. Or are they not allowed to write off losses?

11/08/2016 Raging Capital Management sold A. M. Castle & Co (NYSE:CAS) from its portfolio. The development arose from a new settlement deal that the fund reached with A. M. Castle.

In exiting A. M. Castle, Raging Capital sold its equity stake in the company to W.B. & Co. and affiliates for $.10 a share. Raging Capital owned more than 4.63 million shares and received an aggregate sale price of $463,079.50

Raging Capital sold their stake at 10 cents?

They are smart guys, not sure why you think you know better than them...

Is this a buy at 80% off? Someone had a 1/4 million share bid eod

Just got off the phone with IR, so at this point, all retail will get crammed into 20% of the new common, and you'll get your % of that, could get real bad, so I'm out enough that I just have free shares left. Sucks, the company is turning around, but if I don't have any shares left, what's the point.

I have .35s and .50s lol. I've traded on the way up so I'm not really invested too much at this point, about $100 from free shares. Still sucks to see all this red.

have to reread closer but it looks like debt holders will convert to own 80 per cent of the new shares and the common will get the balance. Massive dilution howev r at least the common shares are not going to be totally wiped out. They will probably do a reverse split and have the new common listed. This might get done in the next six months but at .10 cents a share it might be worth buying.

So how exactly does that work? I get 20% of my current shares, or all share holders get 20% of the new shares split up according to current percentage.
Meaning, I could end up with a share or two.

Bankrupt. Shareholders to get 20% of new common.


At least it wasn't a total wipeout

Still hiring, still chugging along. Decent charting action today, dipped just below 50 before bouncing, lets see if it continues.