Enerplus (ERF) Announces $345 Million Equity Offering
Tweet
Share
E-mailGet Alerts ERF Hot Sheet
Join SI Premium – FREE
Enerplus (NYSE: ERF) has entered into an agreement to issue to a syndicate of Canadian underwriters on a bought deal basis 12,790,000 common shares at a price of $23.45 per share for gross proceeds of approximately $300 million.
Enerplus has granted the underwriters an option, exercisable in whole or in part until 30 days following closing, to purchase up to 1,918,500 additional common shares at the same offering price, to cover over-allotments, if any, and for market stabilization purposes.
Should the underwriters' over-allotment option be fully exercised, the total gross proceeds of the financing will be approximately $345 million.
The net proceeds from the offering will be used to finance a portion of Enerplus' 2012 capital expenditure program.
Enerplus has granted the underwriters an option, exercisable in whole or in part until 30 days following closing, to purchase up to 1,918,500 additional common shares at the same offering price, to cover over-allotments, if any, and for market stabilization purposes.
Should the underwriters' over-allotment option be fully exercised, the total gross proceeds of the financing will be approximately $345 million.
The net proceeds from the offering will be used to finance a portion of Enerplus' 2012 capital expenditure program.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Tungray Technologies (TRSG) Prices 1.25M Share IPO at $4/sh
- Bio-Path Holdings (BPTH) Announces 375K Share Offering at $3.225/sh
- Enliven Therapeutics, Inc (ELVN) Files for 6.43M Share Offering by Selling Stockholders
Create E-mail Alert Related Categories
Equity OfferingsSign 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!
