Deal, priced at $9.25 per share, is expected to fund debt repayment
By Devika Patel
Knoxville, Tenn., Feb. 6 - Rex Energy Corp. said it settled a $74.46 million public sale of stock. The deal priced for $64.75 million with a $9.71 million greenshoe on Feb. 1.
The company sold 8.05 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 was the sole bookrunning manager; RBC Capital Markets, SunTrust Robinson Humphrey and Wells Fargo Securities were co-lead managers; and Johnson Rice & Co. LLC, Capital One Southcoast, Stifel Nicolaus Weisel and Rodman & Renshaw, LLC were the co-managers.
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: | $74,462,500 (including $9,712,500 greenshoe)
|
| Shares: | 8.05 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: | $458.21 million
|
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