The non-current liability figure also includes the estimated benefit obligation for the retiree welfare plans of $50.6 million that was terminated by management the day before the company filed for bankruptcy, which decreases the non-current liability total figure. I discovered it a week and a half ago. Briggs & Stratton Corporation (NYSE:BGG) has a beta value of 1.6 and has seen 2,238,529 shares traded in the recent trading session. Briggs & Stratton Corporation has entered into a definitive stock and asset purchase agreement with KPS Capital Partners. They are not selling Briggs & Stratton as an entity - they are selling the company's assets. stock price predictions may be different due to the different analyzed time series. stock. Based on the financial figures filed with the court, unsecured notes are way under water. Ch.11 Bankruptcy Filing. I have already added some companies... phambachphi408_4810 — Share your opinion and gain insight from other stock traders and investors. Find the latest Briggs & Stratton Corporation (BGGSQ) stock discussion in Yahoo Finance's forum. Yes. The consensus among Wall Street analysts is that investors should "sell" Briggs & Stratton stock. 1 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Briggs & Stratton in the last year. Briggs & Stratton Corp. expects its new battery line to generate $30 million in revenue in its next fiscal year and potentially 10% of sales by fiscal 2023. Best Briggs & Stratton Corp. forecast, Bobcat Company Expands Zero-Turn Mower Line To 21 Models, Immunity-Boosting Silica Nanoparticles Could Replace Pesticides, Kubota Develops a Smartphone App that Streamlines Troubleshooting of Construction Machinery, Ground-Penetrating Radar May Be An Easier Alternative To Soil Sampling. Register. 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This has become the new "normal" and no recovery for shareholders continues to be normal. The assets are being sold under section 363 and a "stalking horse" bidder was selected from a number of interested parties. There could also be a bid from the ad hoc group of unsecured noteholders, but most of the time those type of plans just benefit that specific group of institutional holders of unsecured debt and not retail holders of the same notes. CORP DL-,01 (BS7.F) stock discussions in Yahoo Finance's forum. A cash bid lower than $570.25 million could still be the winning bid if the buyer was going to assume more liabilities. change will be Briggs & Stratton said it has obtained $677.5 million in debtor-in-possession financing, with $265 million committed by KPS and $412.5 million from a group of lenders. USD today. Briggs & Stratton Corporation represents 43.73M in outstanding shares, while the company has a total market value of $255.38M with the latest information. The shares of the Industrials sector company has a current value of $1.93 after BGG shares went down by -4.45% during the last trading session. bad, high-risk 1-year investment option. This is the same judge that approved the appalling Ch.11 reorganization plan for Peabody Energy (BTU) a few years ago. Briggs & Stratton Corp. technical analysis, Like the other 2 comments, it needs to be updated. Without even factoring in other priority claims, unsecured noteholders are way under water to get any recovery unless they receive a "gifting" recovery from a higher priority class. They filed because the small motor engine manufacturer's operations were negatively impacted by COVID-19 and debt that was maturing later this year could not be refinanced. Under that approved plan, a select group of institutional noteholders effectively received recoveries that were much larger than retail noteholders. The plan effective date may not be until late first quarter or early second quarter 2021. BRIGGS & STRATTON CORPORATION (NYSE:BGG) Files An 8-K Other EventsITEM 8.01. Briggs & Stratton said it has secured $677.5 million in DIP funding, with $265 million committed by KPS and $412.5 million from a group of creditors. It seems to me that this site is pure gold. Will BGG price go up? Shares of Briggs & Stratton are rising today, up 14.1% as of 2:30 p.m. EDT despite the engine maker reporting a pretty sizable loss in its fiscal first quarter 2020. Sign in, Not a member? The stock should be sold because shareholders will receive no recovery and based on various financial figures filed with the court, it seems that unsecured notes are way under water. How will Briggs & Stratton Corp. stock price increase? Briggs & Stratton Corporation stock is now -60.81% down from its year-to-date (YTD) trading value. BGG stock future price, The Briggs & Stratton stock price is richrotondejr_2220 — Many Briggs & Stratton investors and employees are upset that management was awarded $5.125 million retention bonuses shortly before the bankruptcy filing. According to WSJ, Briggs & Stratton Corporation (BGG) obtained an estimated Hold proposal from the 4 brokerage firms currently keeping a deep eye on the stock performance as compares to its rivals. Briggs & Stratton filed for bankruptcy (docket 1) in St. Louis with Judge Barry Schermer hearing the case. At first thought the unsecured notes, which trade in a range of 8-10, might be an interesting investment, but after more in-depth analysis, it seems that unsecured noteholders will receive no recovery. If you are looking for stocks with good return, Briggs & Stratton Corp. stock Briggs & Stratton said that the sooner its sale to KPS is approved, the lower the legal expenses will be for completing the bankruptcy case, which could allow unsecured creditors to recover … Is Briggs & Stratton Corp. price going up? The closure of Briggs & Stratton’s Murray facility will affect more than 600 full-time positions, said Mark Manning, president of the Murray Calloway Economic Development Corporation. Question Box: While there most likely will be negotiations by various stakeholders over the next few months, I do not expect them to file a Ch.11 reorganization plan within the 120-day exclusive period under section 1121. There is an ad hoc unsecured noteholder group that holds $125 million unsecured notes (64%) that could try to negotiate some type of deal, but I would not invest in the unsecured notes based on that wishful thinking. Unsecured notes are most likely too far under water to get a recovery. View analyst ratings for Briggs & Stratton or view MarketBeat's top 5 stock … RSI14 is 50 and the stock is currently not being overbought or oversold Red day on Friday for Briggs & Stratton Corporation stock after losing 0% (Updated on September 04, 2020) WARNING : Technical analysis is removed to prevent users from misleading information. BGG Stock saw the intraday high of $2.89 and lowest of $2.50 per share. I expect the judge to "rubber stamp" a request for an extension until early 2021, after the asset sale and the time period to adjust for "final purchase price". 0.000001 USD . To top KPS Capital's bid, the bid would have to be at least $570.25 million ($550 million + $16.5 million termination payment + $2.75 million expense reimbursement payment + $1 million minimum bid increase) and assume the same liabilities as KPS Capital's bid. The site was born on May, 2nd, 2010 and while stays in the status of the newborn. Hilarious Knock-Offs, 2021 Ford E-350, E-450 Are Too Hot To Handle, So They’re Being Recalled, STIHL Picks Up Technology Award Of Excellence. Will BGG price drop? It should be 40.08. Just using the $325.9 million ABL claim and the $204.3 million increase in debt estimated in the DIP budget, there would be $530.2 million in higher priority claims ahead of any unsecured note recovery. Stay up to date on the latest stock price, chart, news, analysis, fundamentals, trading and investment tools. BGG expected stock price. The company did not go into bankruptcy because of being overly leveraged. Briggs & Stratton, a maker of small engines, generators and some outdoor products has recently declared bankruptcy after years of falling stock. * Our share forecasts and predictions are made by, Briggs & Stratton Corp. Forecast. Already a member? 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