TCS Capital Management Urges Angie’s List Inc (ANGI) To Pursue Merger; Plus Latest Moves by MFP Investors and Orange Capital

In a separate filing with the SEC, MFP Investors reported increasing its stake in S&W Seed Company (NASDAQ:SANW) to 2.93 million shares, representing 19.99% of the company’s common stock. MFP Investors is a private investment fund controlled by Michael F. Price that focuses on long-term, value investment opportunities. Recently, S&W Seed Company (NASDAQ:SANW) announced that it closed a non-brokered private placement of its common stock with MFP Investors for proceeds of about $4.9 million. The company issued 1.18 million common shares at $4.15 per share in the private placement. S&W Seed Company (NASDAQ:SANW) is a global agricultural company, headquartered in Fresno, California. The company currently plans to raise up to about $10.4 million through the distribution of subscription rights and the exercise thereof, the full rights of which will entitle security holders to purchase shares of common stock at $4.15 per share. Other large shareholders of S&W Seed among those we track include Mark Coe’s Coe Capital Management and Ken Grossman and Glen Schneider’s SG Capital Management, holding 172,255 shares and 130,008 shares, respectively, as of the end of the third quarter.

In new filing with the SEC, Orange Capital reported that its standstill agreement with Bellatrix Exploration Ltd (NYSE:BXE) expired on November 30. The agreement was signed by the parties in December 2014. The filing showed that Orange Capital holds 32.73 million Bellatrix Exploration shares, which represents 17.0% of the company’s common shares. Orange Capital states in the filing that it will continue to work collaboratively with Bellatrix Exploration Ltd (NYSE:BXE)’s management and the other board members, with the shared goal of maximizing long-term value for all shareholders.

Bellatrix Exploration Ltd (NYSE:BXE) is a $305.2-million oil and gas company operating in Western Canada’s Sedimentary Basin. A total of ten hedge funds in our database were holding Bellatrix Exploration Ltd in their portfolios at the end of September, compared to 12 at the end of the second quarter. For the three months ended September 30, the company posted a loss of $12.6 million, compared to a profit of $29.62 million a year ago. Total revenue fell by 40% to $82.1 million. Aside from Orange Capital, Baupost Group, led by Seth Klarman, also sees value in Bellatrix Exploration, holding 23.99 million shares at the end of the third quarter.

Disclosure: None