Bookrunners Stephens, Canaccord, Baird have $7.5 million greenshoe
By Devika Patel
Knoxville, Tenn., June 19 – Abraxas Petroleum Corp. said it priced its $50 million public sale of stock with a $7.5 million greenshoe on Wednesday. The deal was announced June 12.
The company will sell 10 million common shares at $5.00 apiece. The price per share is a 6.89% discount to the June 17 closing share price of $5.37.
Stephens Inc., Canaccord Genuity Inc. and Robert W. Baird & Co. Inc. are the joint bookrunning managers.
Settlement is expected June 24.
Proceeds will be used to repay debt and for general corporate purposes.
Abraxas is an oil and natural gas exploitation and production company based in San Antonio.
| Issuer: | Abraxas Petroleum Corp.
|
| Issue: | Common shares
|
| Amount: | $50 million
|
| Greenshoe: | $7.5 million
|
| Shares: | 10 million
|
| Price: | $5.00
|
| Warrants: | No
|
| Bookrunners: | Stephens Inc., Canaccord Genuity Inc. and Robert W. Baird & Co. Inc.
|
| Senior co-manager: | Global Hunter Securities
|
| Co-managers: | Johnson Rice & Co. LLC, Ladenburg Thalmann, SunTrust Robinson Humphrey, Euro Pacific Capital, KLR Group, LLC and Societe Generale
|
| Announcement date: | June 12
|
| Pricing date: | June 18
|
| Settlement date: | June 24
|
| Stock symbol: | Nasdaq: AXAS
|
| Stock price: | $5.37 at close June 17
|
| Market capitalization: | $501.83 million
|
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