Abraxas Petroleum Corporation Announces Exercise of Over-Allotment Option and Closing of Public Offering
May 25 2016 - 4:01PM
Business Wire
Abraxas Petroleum Corporation (“Abraxas” or the “Company”)
(NASDAQ:AXAS) today announced the closing of its public offering of
28,750,000 shares of common stock including 3,750,000 shares sold
pursuant to the full exercise of the underwriters option to
purchase additional shares at a price of $1.00 per share, less
applicable underwriting discounts.
The offering was made pursuant to an effective shelf
registration statement on Form S-3 previously filed by the Company
with the SEC. This press release shall not constitute an offer to
sell or the solicitation of an offer to buy these securities, 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 such state or jurisdiction. This offering was
made by means of a prospectus supplement and related base
prospectus.
Johnson Rice & Company L.L.C., Canaccord Genuity Inc. and
Stephens Inc. are acting as joint book-running managers for the
offering. Copies of the preliminary prospectus supplement for the
offering may be obtained on the website of the Securities and
Exchange Commission, www.sec.gov, or by contacting
Johnson Rice & Company L.L.C., ATTN: Syndicate Department, 639
Loyola Avenue, Suite 2775, New Orleans, LA 70113, or by telephone
at (800) 443-5924; Canaccord Genuity Inc., ATTN: Syndicate
Department, 99 High Street, 12th Floor, Boston, MA 02110, or by
telephone at (617) 371-3900; or Stephens Inc.’s Prospectus
Department at Stephens Inc., 111 Center Street, Little Rock, AR
72201, ATTN: Prospectus Department
(prospectus@stephens.com) or by telephone at (501)
377-2131.
The common stock will be issued and sold pursuant to an
effective shelf registration statement on Form S-3 previously filed
with the Securities and Exchange Commission. This press release
shall not constitute an offer to sell or the solicitation of an
offer to buy these securities, 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 such state or
jurisdiction. This offering may only be made by means of a
prospectus supplement and related base prospectus.
Abraxas Petroleum Corporation is a San Antonio based crude oil
and natural gas exploration and production company with operations
across the Rocky Mountain, Permian Basin and onshore Gulf Coast
regions of the United States.
Safe Harbor for forward-looking statements: Statements in this
release looking forward in time involve known and unknown risks and
uncertainties, which may cause Abraxas’ actual results in future
periods to be materially different from any future performance
suggested in this release. Such factors may include, but may not be
necessarily limited to, changes in the prices received by Abraxas
for crude oil and natural gas. In addition, Abraxas’ future crude
oil and natural gas production is highly dependent upon Abraxas’
level of success in acquiring or finding additional reserves.
Further, Abraxas operates in an industry sector where the value of
securities is highly volatile and may be influenced by economic and
other factors beyond Abraxas’ control. In the context of
forward-looking information provided for in this release, reference
is made to the discussion of risk factors detailed in Abraxas’
filings with the Securities and Exchange Commission during the past
12 months.
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version on businesswire.com: http://www.businesswire.com/news/home/20160525006385/en/
Abraxas Petroleum CorporationGeoffrey King, 210-490-4788Vice
President – Chief Financial
Officergking@abraxaspetroleum.comwww.abraxaspetroleum.com
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