Encore Acquisition to repay revolver debt with common stock proceeds

By Sara Rosenberg

New York, Sept. 9 - Encore Acquisition Co. plans to repay borrowings under its revolving credit facility using proceeds from the sale of 2.75 million shares of common stock, according to a news release.

The offering priced on Tuesday at $37.40 per share and is expected to close on Monday.

Encore is a Fort Worth, Texas-based acquirer and developer of oil and natural gas reserves from onshore fields.

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