Preferred Stock Offerings
By Ru Back Packer Staff, updated Thursday, February 1, 6:01 AM
Slide #224. FX Energy, Inc. — Preferred Stock Offering
||FX Energy, Inc. (FXEN)
|Date of Pricing:
|Price Per Share:
|Preferred Stock Offering Details:
||FX Energy, Inc. (NASDAQ: FXEN) (the "Company") announced today that it has priced an underwritten public offering of 800,000 shares of its 9.25% Series B Cumulative Convertible Preferred Stock (the "Series B Preferred Stock") at a public offering price of $25.00 per share. Holders of Series B Preferred Stock may convert their shares, in whole or in part, into shares of the Company's common stock at a conversion price of $5.00 per share. The Company may cause conversion of the Series B Preferred Stock if the trading price of its common stock exceeds $6.00 for 20 trading days in any consecutive 30-trading-day period.
FX Energy is an independent oil and gas exploration and production company with principal production, reserves, and exploration in Poland and oil production, oilfield service, and exploration activities in the U.S. Co. focuses its exploration efforts in Poland, primarily on the Rotliegend sandstones of the Permian Basin. Co.'s U.S. operations consist mostly of shallow, waterflood oil-producing wells in the Southwest Cut Bank Sand Unit of Montana. Co. also provides third-party contract oilfield services. At Dec 31 2014, Co. had total estimated proved reserves of 39.53 billion cubic feet of gas equivalent, consisting of 37.39 billion cubic feet of natural gas and 0.4 million barrels of oil.
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