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Sanchez Energy Corp Announces Placement Of $225 Million Private Offering Of Previously Announced 6.50% Cumulative Perpetual Convertible Preferred Stock, Series

Tuesday, 19 Mar 2013 09:25am EDT 

Sanchez Energy Corp announced that it has placed a total of 4,500,000 shares of its previously announced offering of its 6.50% Cumulative Perpetual Convertible Preferred Stock, Series B, in a private offering to eligible purchasers. Aggregate net proceeds from this offering are expected to be approximately $217 million after deducting placement agent's fees and estimated offering expenses. As previously announced, Sanchez Energy intends to use the net proceeds from this offering to fund a portion of the purchase price for a previously announced acquisition of certain assets in the Eagle Ford Shale. Closing of the private placement is expected to occur on or about March 26, 2013, and will be subject to the satisfaction of various customary closing conditions. 

Company Quote

-0.27 -0.81%
25 Jul 2014