Abraxas Announces Proposed Shelf Registration Statements
June 30 2016 - 4:15PM
Business Wire
Abraxas Petroleum Corporation (“Abraxas” or the “Company”)
(NASDAQ:AXAS) today announced that it filed a universal shelf
Registration Statement on Form S-3 and an acquisition shelf
Registration Statement on Form S-4 with the Securities and Exchange
Commission. The Company has no immediate plans to raise capital
under the universal shelf on Form S-3 or to utilize the shelf Form
S-4 for an acquisition transaction.
Once declared effective by the Securities and Exchange
Commission, the universal shelf on Form S-3 will permit Abraxas to
sell, in one or more public offerings, shares of common stock,
preferred stock or debt securities, or any combination of such
securities, for proceeds in an aggregate amount of up to $200
million.
The acquisition shelf registration statement on Form S-4 will,
once declared effective by the Securities and Exchange Commission,
enable Abraxas to issue up to 25 million shares of common stock in
one or more acquisition transactions that the Company may make from
time to time. These transactions may include the acquisition of
assets, businesses or securities, whether by purchase, merger or
any other form of business combination.
Bob Watson, President and CEO of Abraxas, commented, "We are
filing S-3 and S-4 Registration Statements in the normal course of
business. Abraxas does not have any current plans to raise capital
or utilize stock for an acquisition. These registrations must be
updated every three years and Abraxas last filed the Company’s
Registration Statement in June 2013.”
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any securities.
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/20160630006268/en/
Abraxas Petroleum CorporationGeoffrey King, 210-490-4788Vice
President – Chief Financial
Officergking@abraxaspetroleum.comwww.abraxaspetroleum.com
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