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Slideshow Secondary Stock Offerings

By The Online Investor Staff, updated Sun., Aug. 28, 10:01 AM

Slide #2. Jones Energy, Inc. Secondary Offering

Company: Jones Energy, Inc. (NYSE:JONE)
Date announced: 8/18/2016
Shares Offered: 1,600,000
Date of Pricing: 8/19/2016
Price Per Share: $50.00
Secondary Offering Details: Jones Energy, Inc. (NYSE:JONE) ("Jones Energy" or the "Company") announced today the launch of an underwritten public offering of 14,000,000 shares of its Class A common stock, subject to market conditions. The underwriters will have an option to purchase up to an additional 2,100,000 shares of Class A common stock from the Company. In addition, the Company also announced today the launch of an underwritten public offering of 1,000,000 shares of its Series A Perpetual Convertible Preferred Stock at an issue price of $50 per share, subject to market conditions. The underwriters will have an option to purchase up to an additional 150,000 shares of Series A Perpetual Convertible Preferred Stock from the Company.-updated 8/19- Jones Energy, Inc. (NYSE:JONE) ("Jones Energy" or the "Company") announced today the pricing of its previously announced underwritten public offerings of 21,000,000 shares of its Class A common stock at $2.77 per share and 1,600,000 of its 8% Series A Perpetual Convertible Preferred Stock (the "Convertible Preferred Stock") having an offering price and liquidation preference of $50 per share. The offerings were upsized from the previously announced offerings of 14,000,000 shares of Class A common stock and 1,000,000 shares of Convertible Preferred Stock. The Company has granted the underwriters a 30-day option to purchase up to an additional 3,150,000 shares of Class A common stock and 240,000 shares of Convertible Preferred Stock in the respective offerings. Both offerings are expected to settle and close on August 26, 2016, subject to customary closing conditions.

Jones Energy is a holding company. Through its subsidiary, Co. is an independent oil and gas company engaged in the exploration, development, production and acquisition of oil and natural gas properties in the mid-continent U.S., spanning areas of Texas and Oklahoma. Co.'s operations are focused on horizontal drilling and completions within two basins in the Texas Panhandle and Oklahoma: the Anadarko Basin, targeting the liquids-rich Cleveland, Granite Wash, Tonkawa and Marmaton formations; and the Arkoma Basin, targeting the Woodford shale formation. As of Dec 31 2015, Co.'s total estimated proved reserves were 101.6 million barrels of oil equivalent.

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Company Name:  Jones Energy Inc
Website:  www.jonesenergy.com
Sector:  Oil & Gas Exploration & Production
Number of ETFs Holding JONE:  17
Total Market Value Held by ETFs:  $4.32M
Total Market Capitalization:  $166.00M
% of Market Cap. Held by ETFs:  2.60%
 

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August 28, 2016    10:01 AM Eastern
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Hold (2.37 out of 4)
17th percentile
(ranked lower than approx. 83% of all stocks covered)
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