Canaccord Genuity Maintains a 'Buy' on Sanchez Energy (SN); Infused
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Sanchez Energy (SN) Prices 2.5M Convertible Preferred Offering
September 12, 2012 8:33 AM EDTSanchez Energy (NYSE: SN) has priced a private offering to eligible purchasers of 2.5 million shares of a newly created series of convertible preferred stock, to be designated as 4.875% Cumulative Perpetual Convertible Preferred Stock, Series A. Sanchez Energy has also granted the initial purchasers a 30-day option to purchase up to 500,000 additional shares of the convertible preferred stock solely to cover over-allotments.
Net proceeds from this offering are expected to be approximately $120.4 million, or approximately $144.6... More
