Mariner Energy (ME) Sells 10M Shares at $14.50/Share
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.
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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