Finance & Investing | Fundraising | Capital Markets
Cimarex Wraps Up Public Offering to Fund Drilling Increase
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Cimarex Energy Co. announced the closing of its previously announced public offering of 6,000,000 shares of its common stock and the full exercise of the underwriters' option to purchase 900,000 additional shares.
Net proceeds of approximately $730 million, after deducting underwriting fees, are expected to be used for general corporate purposes and to fund increased drilling and completion activity in the second half of 2015 and more significantly in 2016.
J.P. Morgan and Barclays acted as joint book-running managers for the offering.
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