Delta Petroleum stock offering to raise $121.7 mln
NEW YORK, April 19 (Reuters) - Delta Petroleum Corp. (DPTR.O), an energy exploration and development company, said on Thursday it expects net proceeds of about $121.7 million from a previously announced common stock offering.
The offering of 6.2 million shares of common stock was priced at $20.50 per share, the company said.
It also said it expects net proceeds of about $96.8 million from a concurrent offering of convertible senior notes due 2037.
The company plans to use the money from the stock sale to pay down about $117 million outstanding under a senior secured credit facility.
The remaining money from the stock sale and the proceeds from the new notes offering will be used for capital expenditures and other general corporate purposes, it said.
