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Slideshow Secondary Stock Offerings

By The Online Investor Staff, updated Fri., Sep. 19, 11:48 AM

Slide #24. Vanguard Natural Resources, LLC Secondary Offering

Company: Vanguard Natural Resources, LLC (NASDAQ:VNR)
Date announced: 9/10/2014
Shares Offered: 4,000,000
Date of Pricing: 9/11/2014
Price Per Share: $25
Secondary Offering Details: Vanguard Natural Resources, LLC (NASDAQ:VNR) (the "Company") today announced that it has commenced a public offering of Series C Cumulative Redeemable Perpetual Preferred Units ("Series C Preferred Units") pursuant to an effective shelf registration statement on Form S-3, as amended, filed with the Securities and Exchange Commission (the "SEC"). The Company will grant the underwriters a 30-day option to purchase additional Series C Preferred Units. The Company intends to use the net proceeds from the offering to repay a portion of its indebtedness outstanding under its senior secured revolving credit facility. - updated 9/11 - Vanguard Natural Resources, LLC (NASDAQ:VNR) (the "Company") today announced the pricing of its public offering of 4,000,000 of its 7.75% Series C Cumulative Redeemable Perpetual Preferred Units ("Series C Preferred Units") at a price of $25.00 per unit. The underwriters have been granted a 30-day option to purchase up to an additional 600,000 Series C Preferred Units from the Company at the public offering price less the underwriting discount. Distributions will be payable on the Series C Preferred Units at an initial rate of 7.75% per annum of the stated liquidation preference of $25.00. The offering is expected to close on September 15, 2014, subject to customary closing conditions.

Vanguard Natural Resource is focused on the acquisition and development of oil and natural gas properties. Co. owns properties and oil and natural gas reserves in: the Arkoma Basin in Arkansas and Oklahoma; the Permian Basin in West Texas and New Mexico; the Big Horn Basin in Wyoming and Montana; the Piceance Basin in Colorado; South Texas; the Williston Basin in North Dakota and Montana; the Wind River Basin in Wyoming; the Powder River Basin in Wyoming; and Mississippi. At Dec 31 2011, Co.'s estimated proved developed and undeveloped reserves for crude oil, natural gas, and natural gas liquids were 44.8 million barrels, 163.00 billion cubic feet, and 7.4 million barrels, respectively.

Preferreds: VNRAP, VNRBP

Open the VNR Page at The Online Investor »

Company Name:  Vanguard Natural Resources LLC
Sector:  Oil & Gas Exploration & Production
Number of ETFs Holding VNR:  3
Total Market Value Held by ETFs:  $3.48M
Total Market Capitalization:  $2.45B
% of Market Cap. Held by ETFs:  0.14%

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

September 19, 2014    11:48 AM Eastern
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Buy (2.69 out of 4)
28th percentile
(ranked lower than approx. 72% of all stocks covered)
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