Platteville-based Synergy Resources announces $150M public offering
PLATTEVILLE – Synergy Resources Corp. (NYSE: SYRG) will issue an underwritten public offering of $150 million in common stock.
The Platteville-based oil and natural-gas producer intends to use the net proceeds from the offering, along with cash on hand, to fund acquisitions in the Wattenberg field, which includes territory in Weld County. Synergy will also use the offering to pay down outstanding debt under its revolving credit facility and for corporate purposes, including working capital.
Underwriters of the offering will have an option to purchase up to an additional $22.5 million of common stock from Synergy.
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Seaport Global Securities LLC and Johnson Rice & Company LLC will manage the offering.
Synergy shares fell nearly 6 percent to $11.26 in afternoon trading Wednesday.
PLATTEVILLE – Synergy Resources Corp. (NYSE: SYRG) will issue an underwritten public offering of $150 million in common stock.
The Platteville-based oil and natural-gas producer intends to use the net proceeds from the offering, along with cash on hand, to fund acquisitions in the Wattenberg field, which includes territory in Weld County. Synergy will also use the offering to pay down outstanding debt under its revolving credit facility and for corporate purposes, including working capital.
Underwriters of the offering will have an option to purchase up to an additional $22.5 million of common stock from Synergy.
Seaport Global Securities LLC and…
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