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QEP Resources Announces Offering of Common Stock

DENVER, June 21, 2016 (GLOBE NEWSWIRE) -- QEP Resources, Inc. (QEP) (“QEP” or the “Company”) announced today that it has commenced an underwritten public offering of 20,000,000 shares of its common stock. QEP intends to grant the underwriters a 30-day option to purchase up to 3,000,000 additional shares of common stock.

The net proceeds from this offering are expected to be used to partially fund QEP’s recently announced acquisition of oil and gas properties in the northern Midland Basin of the Permian Basin (the “Acquisition”). If the Acquisition is not consummated, the Company intends to use the net proceeds from this offering for general corporate purposes, which may include, among other things, reducing indebtedness, acquiring properties, and funding a portion of its exploration and production activities and working capital. This offering is not conditioned upon the completion of the Acquisition, which, if completed, will occur subsequent to the closing of this offering, and the completion of this offering is not a condition to the completion of the Acquisition.

J.P. Morgan and Deutsche Bank Securities are acting as joint, active book-running managers and Wells Fargo Securities and BMO Capital Markets Corp. are acting as joint book-running managers for the offering. The offering will be made only by means of a preliminary prospectus supplement and the accompanying base prospectus, copies of which may be obtained by contacting (i) J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by calling toll-free at (866) 803-9204 or by email at prospectus-eq_fi@jpmchase.com; or (ii) Deutsche Bank Securities Inc., 60 Wall Street, New York, NY 10005, Attention: Prospectus Department, or by calling (800) 503-5611 or by email at prospectus.cpdg@db.com; or (iii) Wells Fargo Securities, 375 Park Avenue, New York, New York 10152, Attention: Equity Syndicate Department, or by calling (800) 326-5897, or by emailing a>


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