Resolute Energy (REN) Announces Closure of Delaware Basin Asset Acquisition
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
Resolute Energy Corporation (NYSE: REN) announced the closing of its previously announced acquisition of certain oil and gas properties located in Reeves County, Texas, for an aggregate purchase price of $135.0 million. The acquisition was financed in part with proceeds received from the previously announced private offering of shares of 8 1/8% Series B Cumulative Perpetual Convertible Preferred Stock of the Company, which also closed today. The Company sold a total of 62,500 shares of the convertible preferred stock, which includes 7,500 shares issued in connection with the exercise by the initial purchaser of its over-allotment option. Total net proceeds from the sale of the convertible preferred stock, before offering expenses, was approximately $60.0 million.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Tesla (TSLA) Posts Q3 adj.-EPS of 71c
- UPDATE: Wabtec (WAB), Faiveley Settle DOJ Merger Challenge with Divestiture - Bloomberg
- Antero Resources Reports Third Quarter 2016 Financial and Operational Results
Create E-mail Alert Related CategoriesCorporate News, Mergers and Acquisitions
Related EntitiesDefinitive 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!