Mariner Energy (ME) Sells 10M Shares at $14.50/Share
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Mariner Energy, Inc. (NYSE: ME) agreed to sell 10 million shares of common stock at a public offering price of $14.50 per share.
Mariner Energy closed at $14.65 yesterday.
Mariner also has agreed to sell $300 million in aggregate principal amount of its 11.75% senior notes due 2016 concurrently with the sale of common stock, an increase of $50 million from the amount previously announced.
Mariner expects to use net proceeds from the sales of common stock and senior notes to repay debt under its secured bank credit facility.
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