Resolute greenshoe exercise increases convertibles to $62.5 million

By Angela McDaniels

Tacoma, Wash., Oct. 7 – Resolute Energy Corp. said the $7.5 million over-allotment option for its 8.125% series B cumulative convertible perpetual preferred stock was exercised in full, increasing the size of the issue to $62.5 million.

As previously reported, the company priced $55 million of the convertibles on Tuesday at par with a 15% initial conversion premium.

The $1,000-par convertibles were sold via a Rule 144A offering.

BMO Capital Markets was the bookrunner.

Proceeds were used to fund a portion of the $135 million purchase price of oil and gas assets in Reeves County, Texas.

Resolute Energy is a Denver-based oil and gas exploration and production company.

© 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.