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Premier Exhibitions, Inc. (PRXI)

  • Mon, Apr. 6, 12:55 PM
    • After the close on Thursday, Premier Exhibitions (PRXI +18%) announced a merger and investment deal which should ease immediate cash concerns.
    • For $6.4M in PRXI stock, Premier agrees to acquire all of Dinoking Tech - the Canada-based owner of Dinosaurs Unearthed.
    • In addition, an investor group will invest up to $13.5M in Premier through convertible debt with an interest rate of 12% and a conversion price of $4.48 per share. $8M of the proceeds will repay a note, and the remaining $5.5M will be used to fund current projects and for working capital.
    • Upon closing, DK shareholders and the investor group will hold 47% of the outstanding Premier voting shares, and the right to nominate four out of seven board members. Daoping Bao - the principal shareholder of DK - will become Executive Chairman, President, and CEO of Premier.
    • Source: Press Release
    • Previously: Premier Exhibitions surges as SA author sees value (April 1)
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  • Mon, Apr. 6, 12:44 PM
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  • Wed, Apr. 1, 12:53 PM
    • Assigning zero value to the operating business, SA author Bram de Haas suggests while it's pretty clear Premier's (PRXI +13.1%) Titanic artifacts are worth well less in a sale than their $189M appraisal value, even a value of $40M would mean about a double of the stock price from these low levels.
    • The article is embargoed to all but Pro subscribers until tomorrow morning.
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  • Wed, Apr. 1, 12:45 PM
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  • Wed, Mar. 11, 8:54 AM
    • Having just completed a 1:10 reverse stock split to bring its share price well above $1, Premier Exhibitions (NASDAQ:PRXI) is quickly heading back to that level, off 25% in the past few sessions.
    • The company knows of no specific reason for the retreat and says it's currently in advanced discussions with a potential strategic partner and is considering several other financing alternatives. "We expect to have more news to report in the near future."
    • Source: Press Release
  • Fri, Feb. 27, 2:48 PM
    • After a 10-for-1 old-fashioned stock split over the past three years, Premier Exhibitions (PRXI -2.7%) announces a 1-for-10 reverse stock split to take effect at the close of business today.
    • The reverse split will take the shares back north of the $3 level, and allow the company to maintain its listing on the Nasdaq.
    • Source: Press Release
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  • Tue, Jan. 13, 4:09 PM
    • Premier Exhibitions (NASDAQ:PRXI): FQ3 EPS of -$0.04
    • Revenue of $6.72M (+5.2% Y/Y)
    • Press Release
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  • Tue, Jan. 6, 6:17 AM
    • Premier Exhibitions (NASDAQ:PRXI) will report FQ3 results on Jan. 13.
    • The conference call is scheduled to begin at 5.00 p.m. ET.
    • Consensus unavailable.
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  • Oct. 14, 2014, 4:06 PM
    • Premier Exhibitions (NASDAQ:PRXI): FQ2 EPS of -$0.03
    • Revenue of $8.29M (+6.0% Y/Y)
    • Press Release
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  • Oct. 1, 2014, 7:46 AM
    • The $8M loan comes with an interest rate of 12% and matures on March 31, 2015. It's secured by a lien on all corporate assets.
    • The bridge financing will allow Premier (NASDAQ:PRXI) the funds to open its New York facility and get the content needed for presentation there. It also allows some breathing room as the one-time deep value favorite tries to somehow turn its Titanic assets into cash.
    • Source: Press Release
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  • Jul. 15, 2014, 7:07 AM
    • Premier Exhibitions (NASDAQ:PRXI): Q2 EPS of -$0.02
    • Revenue of $7.5M (-15.7% Y/Y)
    • Press Release
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  • Jun. 20, 2014, 8:09 AM
    • CFO and COO Michael Little has been appointed to the CEO spot at PRXI on an interim basis following the resignation earlier this week of Sam Weiser (Weiser is still a director, and Mark Sellers remains as chairman).
    • Source: Press Release
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  • May. 27, 2014, 4:44 PM
    • Premier Exhibitions (PRXI): FQ4 EPS of -$0.03.
    • Revenue of $6.19M (-7% Y/Y).
    • Press Release
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  • Jan. 27, 2014, 6:57 PM
    • Premier Exhibitions (PRXI+6.8% AH on news of a partnership with Semmel Concerts to give the company exclusive rights to tour the King Tut exhibition in North America.
    • Semmel has successfully toured a similar exhibition in Europe since 2008, with ~5M people experiencing the exhibition in 20 host cities.
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  • Nov. 22, 2013, 11:25 AM
    • Premier Exhibitions (PRXI +12.9%) continues a nice move after management gives a hint of listening to disgruntled shareholders, lowering board compensation for non-employee directors to $50K per year - half in cash, half in stock - from $90K in cash previously. Chairman Mark Sellers will not receive any compensation.
    • This brings annual board compensation down from $450K in cash to $125K in cash and $125K in stock. "Given the recent decline in the share price, we realize there is a lot more work for us to do. We ask shareholders to remain patient and to stay tuned for more important announcements in the near future."
    • The company also announces a total of 387,307 shares repurchased at an average price of $1.3057 (after the big move this week, the stock's back to $1.31).
    • Previous: The FQ2 earnings call (transcript) following the collapse of the Titanic sale deal is popcorn-worthy.
  • Oct. 10, 2013, 12:45 PM
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Company Description
Premier Exhibitions Inc operates as a exhibition management company. The Company presents to the public museum-quality touring exhibitions around the world.
Sector: Services
Country: United States