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Slideshow Secondary Stock Offerings

By The Online Investor Staff, updated Mon., May. 2, 3:22 PM

Slide #25. Synergy Resources Corporation Secondary Offering

Company: Synergy Resources Corporation (AMEX:SYRG)
Date announced: 4/11/2016
Shares Offered: 19,500,000
Date of Pricing: 4/11/2016
Price Per Share: $7.69
Secondary Offering Details: Synergy Resources Corporation ("Synergy" or the "Company") (NYSE MKT: SYRG) today announced that it intends to offer for sale 19,500,000 shares of its common stock in an underwritten public offering. The Company intends to grant the underwriters an option for 30 days to purchase up to an additional 2,925,000 shares of the Company's common stock. The underwriters intend to offer the shares of common stock to be sold in the offering from time to time for sale in one or more transactions on the NYSE MKT, in the over-the-counter market, through negotiated transactions or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices, subject to receipt and acceptance by them and subject to their right to reject any order in whole or in part. -updated 4/11 - Synergy Resources Corporation ("Synergy" or the "Company") (NYSE MKT: SYRG) today announced that it has priced a public offering of 19,500,000 shares of its common stock for total gross proceeds (before underwriters' compensation and estimated expenses) of approximately $150 million. Credit Suisse is acting as lead book-running manager for the offering. The underwriters intend to offer the shares from time to time for sale in one or more transactions on the NYSE MKT, in the over-the-counter market, through negotiated transactions or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices, subject to receipt and acceptance by them and subject to their right to reject any order in whole or in part. The Company has granted the underwriters an option for 30 days to purchase up to an additional 2,925,000 shares of the Company's common stock. The offering is expected to close on or around April 14, 2016, subject to customary closing conditions.

Synergy Resources is an oil and natural gas company engaged in the acquisition, development, and production of crude oil and natural gas in and around the Denver-Julesburg Basin (D-J Basin) of Colorado. The D-J Basin generally extends from the Denver metropolitan area throughout northeast Colorado into Wyoming, Nebraska, and Kansas. Co.'s drilling and completion activities are focused in the Wattenberg Field, an area that covers the western flank of the D-J Basin, predominantly in Weld County, CO. As of Aug 31 2015, Co.'s estimated net proved reserves were 27.7 million barrels of oil and condensate and 173.96 billion cubic feet of natural gas.

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Company Name:  Synergy Resources Corp
Website:  www.syrginfo.com
Sector:  Oil & Gas Exploration & Production
Number of ETFs Holding SYRG:  31
Total Market Value Held by ETFs:  $75.92M
Total Market Capitalization:  $943.00M
% of Market Cap. Held by ETFs:  8.05%
 

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May 2, 2016    3:22 PM Eastern
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Buy (3.47 out of 4)
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