Carrizo Oil & Gas (CRZO) Prices Larger 6M Share Common Stock Offering for Proceeds of $225M
- Record-setting rally pushes on as S&P ends week up 3 percent
- Trump's Cohn Pick Most Bullish Sign Yet for Banks - Cowen
- Unusual 11 Mid-Day Movers: (IDXG) (INVN) (EBS) Higher; (SCON) (DTEA) (DLTH) Lower (more...)
- 21st Century Fox (FOXA) offers to acquire Sky for GBP10.75/share
- Coca Cola (KO) Announces James Quincey to Succeed Muhtar Kent as CEO; Kent to Continue as Chairman
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.
Carrizo Oil & Gas, Inc. (Nasdaq: CRZO) announced that it has priced an underwritten public offering of 6,000,000 shares of its common stock, which was upsized from the previously announced offering of 5,000,000 shares. Carrizo has also granted the underwriters an option to purchase up to 900,000 additional shares. The total gross proceeds of the offering (before underwriters’ discounts and commissions and estimated offering expenses) will be approximately $225.0 million. Carrizo intends to use a portion of the net proceeds from this offering, and any proceeds from the exercise of the underwriters’ option to purchase additional shares, to fund the purchase price for the pending acquisition of approximately 15,000 net acres in the Eagle Ford Shale (the “Possible Acquisition”). Pending such use, Carrizo expects to use such proceeds temporarily to reduce borrowings under its revolving credit facility. Carrizo intends to use net proceeds not used to pay the purchase price for the Possible Acquisition, including in the event it does not consummate the Possible Acquisition, for general corporate purposes, including future potential acquisitions or a portion of its 2016 and 2017 capital expenditure plans.
In connection with the offering, Citigroup and Wells Fargo Securities are serving as the joint book-runners. The offering is being made pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission on August 28, 2014. Copies of the preliminary prospectus for the offering may be obtained from the office of Citigroup, via telephone: (800) 831-9146; or standard mail c/o Broadridge Financial Services, 1155 Long Island Avenue, Edgewood, New York 11717; Wells Fargo Securities, 375 Park Avenue, New York, NY 10152, Attn: Equity Syndicate Dept., e-mail: email@example.com, phone: 1-800-326-5897.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Athene Holding (ATH) Prices 27M Share IPO Inline with Prior Expectations
- Ladder Capital (LADR) Prices 10M Share Secondary Stock Offering for Proceeds of ~$136M
- MTS Systems (MTSC) Receive NASDAQ Non-Compliance Notice
Create E-mail Alert Related CategoriesCorporate News, Equity Offerings
Related EntitiesCiti, Wells Fargo, Definitive Agreement
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!