Deal, which has 30-day $9.71 million greenshoe, funds debt repayment
By Devika Patel
Knoxville, Tenn., Feb. 1 - Rex Energy Corp. said it priced a $64.75 million public sale of stock with a $9.71 million greenshoe. The deal was announced Thursday.
The company will sell 7 million common shares at $9.25 apiece. The price per share is a 2.22% discount to the Jan. 31 closing share price of $9.46.
KeyBanc Capital Markets is the bookrunner. RBC Capital Markets, SunTrust Robinson Humphrey and Wells Fargo Securities are co-lead managers, and Johnson Rice & Co. LLC, Capital One Southcoast, Stifel Nicolaus Weisel and Rodman & Renshaw, LLC are the co-managers.
Settlement is expected Feb. 6.
Proceeds will be used to repay debt under the company's senior credit facility.
Rex Energy is a State College, Pa.-based independent oil and gas company.
| Issuer: | Rex Energy Corp.
|
| Issue: | Common stock
|
| Amount: | $64.75 million
|
| Greenshoe: | $9,712,500
|
| Shares: | 7 million
|
| Price: | $9.25
|
| Warrants: | No
|
| Bookrunner: | KeyBanc Capital Markets
|
| Pricing date: | Feb. 1
|
| Settlement date: | Feb. 6
|
| Stock symbol: | Nasdaq: REXX
|
| Stock price: | $9.46 at close Jan. 31
|
| Market capitalization: | $443.78 million
|
© 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.
