Sanchez Energy to issue stock in swap for 6.5% perpetual convertibles

By Susanna Moon

Chicago, Feb. 13 - Sanchez Energy Corp. agreed to issue 1,065,600 common shares in exchange for 400,000 shares of its 6.5% cumulative perpetual convertible preferred stock.

The company entered into an exchange agreement Wednesday with a holder of the perpetual preferreds, according to an 8-K filing with the Securities and Exchange Commission.

Settlement was set for Feb. 18.

Houston-based Sanchez Energy is an oil and gas exploration and development company.

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