HOUSTON, March 25, 2011 /PRNewswire/ -- Endeavour
International Corporation (NYSE: END) (LSE: ENDV) today announces
that it has priced its public offering of 10.0 million shares of
its common stock at a price to the public of $11.00 per share. The 10.0 million shares to be
sold represent an increase over the previously-announced 8.0
million shares. Endeavour has granted the underwriters a 30-day
option to purchase up to 1.5 million shares of its common stock.
The offering is expected to settle and close on March 29, 2011, subject to customary closing
conditions. Endeavour intends to use the net proceeds from the
offering to retire all $81.3 million
of its 6% Convertible Senior Notes due 2012. The remaining net
proceeds will be used for general corporate purposes.
Citigroup Global Markets Inc. is acting as sole book-running
manager for the offering. Canaccord Genuity Inc., C.K. Cooper & Company, Global Hunter
Securities, LLC and Rodman & Renshaw, LLC are acting as
co-managers for the offering. The offering will be made only by
means of a preliminary prospectus supplement and related base
prospectus, copies of which may be obtained from:
Citigroup Global Markets Inc.
Attention: Prospectus Department
Brooklyn Army Terminal
140 58th Street, 8th Floor
Brooklyn, NY 11220
Phone: +1-800-831-9146
batprospectusdept@citi.com
A copy of the preliminary prospectus supplement and base
prospectus may also be obtained at no charge at the Securities and
Exchange Commission's website, at http://www.sec.gov.
This press release is neither an offer to sell, nor a
solicitation of an offer to buy, nor shall there be any sale of
these securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such jurisdiction. A
registration statement, as amended, relating to the securities has
been filed with the Securities and Exchange Commission and was
declared effective on February 9,
2010.
Endeavour International Corporation is an independent oil and
gas company engaged in the production, exploration, development and
acquisition of crude oil and natural gas in the U.S. and the North
Sea.
Certain statements in this news release should be regarded as
"forward-looking" statements within the meaning of the securities
laws. These statements speak only as of the date made. Such
statements are subject to assumptions, risk and uncertainty. Actual
results or events may vary materially.
Investors are urged to also consider closely the disclosure in
our filings with the SEC, available from our website at
http://www.endeavourcorp.com. Endeavour is also subject to the
requirements of the London Stock Exchange and considers the
disclosures in this release to be appropriate and/or required under
the guidelines of that exchange.