SM Energy (SM) Announces 8M Share Common Stock Offering

December 1, 2016 4:11 PM EST

Find out which companies are about to raise their dividend well before the news hits the Street with's Dividend Insider Elite. Sign-up for a FREE trial here.

SM Energy Company (NYSE: SM) announced that it has commenced an underwritten public offering of 8,000,000 shares of its common stock. SM Energy expects to grant the underwriters in the offering a 30-day option to purchase up to 1,200,000 additional shares of common stock. SM Energy intends to use the net proceeds from the offering to acquire approximately 4,100 net acres of additional oil and gas assets in the Midland Basin, to reduce indebtedness, and for general corporate purposes.

J.P. Morgan, BofA Merrill Lynch, and Wells Fargo Securities are acting as joint book-running managers for the offering. The shares of common stock are being offered and will be sold pursuant to an effective shelf registration statement that was previously filed with the Securities and Exchange Commission. Before you invest, you should read the preliminary prospectus supplement and accompanying base prospectus in that registration statement for more complete information about this offering. When available, a copy of the preliminary prospectus supplement and accompanying base prospectus relating to this offering may be obtained from any of the underwriters by contacting:

J.P. Morgan Securities LLCc/o Broadridge Financial Solutions1155 Long Island AvenueEdgewood, NY 11717Attn: Post-Sale FulfillmentE-mail:

BofA Merrill LynchNC1-004-03-43200 North College Street, 3rd floorCharlotte, NC 28255-0001Attn: Prospectus DepartmentE-mail:

Wells Fargo SecuritiesAttention: Equity Syndicate Department375 Park AvenueNew York, New York, 10152Email: Telephone: 1 (800) 326-5897

You may also obtain these documents free of charge when they are available by visiting the Securities and Exchange Commission's website at

This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. This offering may be made only by means of a prospectus and related prospectus supplement.


This press release contains forward-looking statements as defined under the federal securities laws, including statements regarding the intended use of offering proceeds and other aspects of the common stock offering. Although management believes that expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to be correct. In addition, these statements are subject to certain risks, uncertainties and other assumptions that are difficult to predict and may be beyond our control, including market conditions, customary offering closing conditions and other factors described in the prospectus and accompanying prospectus supplement for the offering. If one or more of these risks or uncertainties materialize, or if underlying assumptions prove incorrect, SM Energy's actual results may vary materially from what management anticipated, estimated, projected or expected.

Investors are encouraged to closely consider the disclosures and risk factors contained in SM Energy's annual and quarterly reports filed from time to time with the Securities and Exchange Commission and in the prospectus and related prospectus supplement. The statements herein speak only as of the date of this press release. SM Energy undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Equity Offerings

Related Entities

JPMorgan, Merrill Lynch, Bank of America, Crude Oil, Wells Fargo, Definitive Agreement, Equity Offerings

Add Your Comment