Brigham Exploration (BEXP) Prices 32M Shares At $2.75 A Share
Brigham Exploration Company (Nasdaq: BEXP) announced it has priced its offering of 32,000,000 common shares at a public offering price of $2.75 per common share. Brigham intends to use the proceeds from the offering (net of underwriting discounts and expenses) to fund its revised capital expenditure program for 2009, including restarting its operated Bakken and Three Forks drilling program in the Williston Basin, and to repay $35 million of the outstanding borrowings under its senior credit facility. The offering is scheduled to close May 26, 2009.
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