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Slideshow Secondary Stock Offerings

By The Online Investor Staff, updated Fri., Sep. 19, 9:52 PM

Slide #15. Gastar Exploration Inc. Secondary Offering

Company: Gastar Exploration Inc. (AMEX:GST)
Date announced: 9/15/2014
Shares Offered: 17,000,000
Date of Pricing: 9/18/2014
Price Per Share: $6.25
Secondary Offering Details: Gastar Exploration Inc. ("Gastar") (NYSE MKT: GST) announced today that it intends to offer, subject to market and other conditions, 17,000,000 shares of its common stock, par value $0.001 per share, in a public offering pursuant to an effective shelf registration statement previously filed with the Securities and Exchange Commission. In connection with the offering, Gastar intends to grant the underwriters a 30-day option to purchase up to an additional 2,550,000 shares of common stock. Gastar intends to use the net proceeds from the offering to repay all of the outstanding borrowings under its revolving credit facility, to fund its drilling and development program and for general corporate purposes. - updated 9/19 - Gastar Exploration Inc. ("Gastar") (NYSE MKT: GST) announced today that it has priced 17,000,000 shares of its common stock, par value $0.001 per share, at a price to the public of $6.25 per share, in a public offering pursuant to an effective shelf registration statement previously filed with the Securities and Exchange Commission. In connection with the offering, Gastar has granted the underwriters a 30-day option to purchase up to an additional 2,550,000 shares of common stock. Gastar expects to receive net proceeds of approximately $101.2 million (or approximately $116.4 million if the underwriters exercise their option to purchase additional shares), after deducting estimated fees and expenses (including underwriting discounts and commissions).

Gastar Exploration is a holding company. Through its subsidiary, Co. is an energy company engaged in the exploration, development and production of natural gas, condensate, oil and natural gas liquids. Co. is pursuing the development of natural gas in the Marcellus Shale in the Appalachia area of West Virginia and, to a lesser extent, central and southwestern Pennsylvania and oil in the Mid-Continent area of the U.S. Co. also holds acreage in the deep Bossier play in the Hilltop area of East Texas. At Dec 31 2012, Co.'s estimated proved reserves consisted of 131.01 billion cubic feet of natural gas, 4.6 million barrels of natural gas liquids, and 3.4 million barrels of condensate and oil.

Preferreds: GST.PRA, GST.PRB


Open the GST Page at The Online Investor »

Company Name:  Gastar Exploration Inc. (New)
Website:  www.gastar.com
Sector:  Oil & Gas Exploration & Production
Number of ETFs Holding GST:  19
Total Market Value Held by ETFs:  $26.73M
Total Market Capitalization:  $415.00M
% of Market Cap. Held by ETFs:  6.44%
 

Open the GST Page at The Online Investor (in a new window) »

September 19, 2014    9:52 PM Eastern
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