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Slideshow Secondary Stock Offerings

By The Online Investor Staff, updated Sun., Feb. 1, 2:40 PM

Slide #7. Synergy Resources Corporation Secondary Offering

Company: Synergy Resources Corporation (AMEX:SYRG)
Date announced: 1/27/2015
Shares Offered: 16,186,046
Date of Pricing: 1/28/2015
Price Per Share: $10.75
Secondary Offering Details: Synergy Resources Corporation (NYSE MKT: SYRG) ("Synergy" or the "Company") announced today the launch of an underwritten public offering of $150,000,000 of its common stock, subject to market and other conditions. The underwriters will have an option to purchase up to an additional $22,500,000 of common stock from the Company. All of the shares to be sold in this offering will be sold by the Company. - updated 1/28 - Synergy Resources Corporation (NYSE MKT: SYRG) ("Synergy" or the "Company") announced today that it has priced an underwritten public offering of 16,186,046 shares of the Company's common stock at $10.75 per share. The Company has granted the underwriters a 30-day option to purchase up to an additional 2,427,906 shares of common stock. The Company intends to use the net proceeds from the offering, along with cash on hand, to fund additional asset acquisitions in the Wattenberg Field which may become available from time to time, to pay down outstanding indebtedness under its revolving credit facility and for corporate purposes, including working capital. The offering is expected to settle on February 2, 2015 subject to the satisfaction of customary closing conditions.

Synergy Resources is an oil and natural gas operator focused on the acquisition, development, exploitation, exploration and production of oil and natural gas properties primarily located in the Denver-Julesburg Basin (D-J Basin) in northeast Colorado. Co. has concentrated on drilling and completing wells located in the Wattenberg Field, an area within the D-J Basin. At Aug 31 2014, Co.'s estimated net proved oil and gas reserves were 16.3 million barrels of oil and condensate and 95.2 billion cubic feet of natural gas. As of Aug 31 2014, Co. had 451,000 gross and 309,000 net acres under lease, substantially all of which are located in the D-J Basin.
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Company Name:  Synergy Resources Corp
Sector:  Oil & Gas Exploration & Production
Number of ETFs Holding SYRG:  27
Total Market Value Held by ETFs:  $76.15M
Total Market Capitalization:  $1.02B
% of Market Cap. Held by ETFs:  7.46%

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February 1, 2015    2:40 PM Eastern
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Strong Buy (3.67 out of 4)
78th percentile
(ranked higher than approx. 78% of all stocks covered)
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