By Sheri Kasprzak
New York, June 15 - Arena Resources, Inc. intends to complete a $100.45 million direct placement of stock.
A group of institutional investors plans to buy 2.05 million shares at $49.00 each.
Dahlman Rose & Co, LLC was the bookrunner for the offering with SunTrust Robinson Humphrey; Capital One Southcoast, Inc.; C.K. Cooper & Co.; and Pritchard Capital Partners, LLC as co-agents.
The shares are being sold under the company's shelf registration.
The deal is expected to close on June 20.
Based in Tulsa, Okla., Arena is an oil and natural gas exploration company.
| Issuer: | Arena Resources, Inc.
|
| Issue: | Stock
|
| Amount: | $100.45 million
|
| Shares: | 2.05 million
|
| Price: | $49.00
|
| Warrants: | No
|
| Placement agents: | Dahlman Rose & Co., LLC (lead); SunTrust Robinson Humphrey; Capital One Southcoast, Inc.; C.K. Cooper & Co.; Pritchard Capital Partners, LLC
|
| Announcement date: | June 15
|
| Settlement date: | June 20
|
| Stock symbol: | NYSE: ARD
|
| Stock price: | $53.25 at close June 15
|
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