Filings from August 17-23, 2014

Spin Offs:

Aquabound continues to file what appears to be the incorrect filing as it appears to be not a spin off.

New Patriots Transportation Holding (PATI) is spinning off from Patriots Transportation Holding (PATR). The interesting part here is that it is primarily a hauling company and they are spinning off the hauling portion, leaving the remaining enterprise of real estate and mining rights. The management looks all to be jumping onto the new ship. Look for an analysis of this one in the coming weeks.

California Resources Corporation continues to spin off from Occidental Petroleum Corporation (OXY). Unless specialized knowledge of the oil and gas business leads to better insights, this still appears to be best viewed in terms of a stub stock opportunity.


Kodiak Oil and Gas Corporation (KOG) is planning to merge with Whitting Petroleum Corporation (WLL) in an equity combination.

GSI Technology (GSIT) and GigOptix (GIG) will merge for cash, stock and a dividend.

Banco Santander (SAN) will merge with its Brazil entity as part of a reorganization.

JMP Group Inc (JMP) will merge with its LLC entity as part of a reorganization.

Reliant Bank and Commerce Union Bancshare (CUNB) will merge for equity.

Richfield Oil & Gas (ROIL) and Stratex Oil and Gas (STTX) will merge for equity.


MB Financial Inc. (MBFI) is issuing preferred stock as it merges with Taylor Capital.

Gramercy Property Trust (GPT) is issuing Series B stock.

Cellectar Biosciences (CLRB and CLRW for the warrants)  is upgrading to the NASDAQ at $6.15 with a history of negative earnings and cash flows.

Sino Mercury Acquisition (SMACU) is going onto the NASDAQ at $10 with essentially nothing. Virtually no assets, the expenses are sitting in payables, and there is no revenue or cash flows.

Sajan (SAJA) is going to the NASDAQ at $6 with a positive history of income and cash flows.

RAIT Financial Trust (RAS) is issuing debt to be traded.

Immune Pharmaceuticals is issuing preferred as part of its reorganization, which will affect common stock and warrants.

WaferGen Bio-Systems (WGBS) is issuing shares and warrants to attract capital to the negative history of income and cash flows.

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