By Sheri Kasprzak
Atlanta, Dec. 3 - ATP Oil & Gas Corp. said Friday it wrapped up a private placement for $56 million.
On Dec. 1, the company sold 4 million shares at $14 each. ATP president and chairman T. Paul Bulmahn sold an additional 435,857 shares in the offering, but the company did not receive any proceeds from that sale.
ATP, based in Houston, is a natural gas and oil exploration and development company. The company intends to use the proceeds from the offering to accelerate the development of its oil and gas properties in the Gulf of Mexico and the North Sea. The company will also use the funds to reduce $13.3 million in a term loan and for general corporate purposes.
| Issuer: | ATP Oil & Gas Corp.
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| Issue: | Stock
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| Amount: | $56 million
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| Shares: | 4 million
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| Price: | $14.00
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| Warrants: | No
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| Pricing date: | Nov. 29
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| Settlement date: | Dec. 1
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| Stock price: | $14.06 at close Nov. 29
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| Stock price: | $14.20 at close Dec. 1
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