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Slideshow Secondary Stock Offerings

By The Online Investor Staff, updated Tue., Sep. 2, 7:41 PM

Slide #20. Rex Energy Corporation Secondary Offering

Company: Rex Energy Corporation (NASDAQ:REXX)
Date announced: 8/12/2014
Shares Offered: 1,400,000
Date of Pricing: 8/13/2014
Price Per Share: $100
Secondary Offering Details: Rex Energy Corporation ("Rex Energy") (Nasdaq:REXX) announced that it intends to offer, subject to market conditions, 1.25 million depositary shares, each representing a 1/100th interest in a share of convertible perpetual preferred stock, Series A ( the " Series A Convertible Preferred Stock") with a liquidation preference of $10,000 per preferred share. The offering is being made pursuant to an effective registration statement that Rex Energy filed with the Securities and Exchange Commission (the "SEC"). The company intends to grant the underwriters a 30-day option to purchase up to 187,500 additional depositary shares to cover overallotments, if any. Final terms of the offering of the Series A Convertible Preferred Stock, including but not limited to, offering price, conversion price and dividend rate, will be determined at the time of pricing. Rex Energy intends to use the net proceeds from the offering to fund its Appalachian Basin acreage acquisition from SWEPI, LP, an affiliate of Royal Dutch Shell plc, and the remainder to fund our capital expenditures program and for general corporate purposes. - updated 8/13 Rex Energy Corporation ("Rex Energy") (Nasdaq:REXX) today announced that it has priced its registered offering of 1.4 million depositary shares, each representing a 1/100th interest in a share of 6.0% convertible perpetual preferred stock, Series A, with a liquidation preference of $10,000 per share (the "Series A Convertible Preferred Stock"). The offering is expected to close on August 18, 2014, subject to the satisfaction of customary closing conditions. Rex Energy has granted a 30-day option to purchase up to 210,000 additional depositary shares to cover over-allotments, if any.

Rex Energy is an independent oil and gas company operating in the Appalachian Basin and Illinois Basin. In the Appalachian Basin, Co. is focused on its Marcellus Shale, Utica Shale and Upper Devonian Shale drilling and exploration activities. In the Illinois Basin, Co. is focused on the implementation of oil recovery on its properties as well as oil production. At Dec 31 2012, Co. had proved reserves of 618.05 billion cubic feet equivalent of gas, of which 60.1% were natural gas and 39.9% were crude oil and natural gas liquids, and 41.7% were proved developed.
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Company Name:  Rex Energy Corp
Website:  www.rexenergy.com
Sector:  Oil & Gas Exploration & Production
Number of ETFs Holding REXX:  21
Total Market Value Held by ETFs:  $33.46M
Total Market Capitalization:  $827.00M
% of Market Cap. Held by ETFs:  4.05%
 

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September 2, 2014    7:41 PM Eastern
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Buy (3.27 out of 4)
61st percentile
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