Finance & Investing | Fundraising | Capital Markets
PDC Energy to Offer Four Million Shares of Stock
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PDC Energy, Inc. intends to offer for sale 4,000,000 shares of its common stock in an underwritten public offering.
The Company has granted the underwriters an option for 30 days to purchase up to an additional 600,000 shares of the Company's common stock to cover over-allotments, if any. The net proceeds from this offering will be used to repay the principal amounts owed upon the maturity of the Company's 3.25% convertible senior notes due in May 2016 and for general corporate purposes, which may include repaying amounts borrowed under the Company's revolving credit facility.
BofA Merrill Lynch and J.P. Morgan are acting as joint book-running managers for the offering.
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