4.3 million common shares sold in brokered offering led by BMO Capital
By Devika Patel
Knoxville, Tenn., March 21 - Magnum Hunter Resources Corp. negotiated a $30.1 million private placement of stock on March 20, according to an 8-K filed Friday with the Securities and Exchange Commission. The deal will be conducted through lead agent BMO Capital Markets Corp. and co-placement agents Citigroup Global Markets Inc. and Deutsche Bank Securities Inc.
The company will sell 4.3 million common shares at $7.00 per share, which is a 7.41% discount to the March 19 closing share price of $7.56.
Settlement is expected March 26.
Proceeds will be used for general corporate purposes.
Magnum is a Houston-based oil and gas exploration and development company.
| Issuer: | Magnum Hunter Resources Corp.
|
| Issue: | Common stock
|
| Amount: | $30.1 million
|
| Shares: | 4.3 million
|
| Price: | $7.00
|
| Warrants: | No
|
| Agents: | BMO Capital Markets Corp. (lead), Citigroup Global Markets Inc. and Deutsche Bank Securities Inc.
|
| Pricing date: | March 20
|
| Settlement date: | March 26
|
| Stock symbol: | NYSE: MHR
|
| Stock price: | $7.56 at close March 19
|
| Market capitalization: | $1.33 billion
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
