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Slideshow Preferred Stock Offerings

By Ru Back Packer Staff, updated Sunday, January 28, 1:56 PM

Slide #402. Magnum Hunter Resources Corporation Preferred Stock Offering

Company: Magnum Hunter Resources Corporation (MHR)
Underwriters: Barclays Capital Inc., MLV & Co. LLC and Wunderlich Securities, Inc.
Security type: 8.0% Series D Cumulative Preferred Stock (MHR.PRD)
Shares Offered: 1,050,000
Date of Pricing: 9/7/2012
Price Per Share: $44
Preferred Stock Offering Details: Magnum Hunter Resources Corporation announced that it has priced an underwritten public offering of its non-convertible 8.0% Series D Cumulative Preferred Stock (MHR.PRD). The Company is offering 1,050,000 shares of Series D Cumulative Preferred Stock (liquidation preference of $50.00 per share) at a public offering price of $44.00 per share. Net proceeds to the Company after underwriter's commissions and before offering expenses are expected to be approximately $44.6 million. Upon completion of this offering, total outstanding Series D Cumulative Preferred Stock based on liquidation preference will be approximately $200 million. In connection with the offering, Barclays Capital Inc., MLV & Co. LLC and Wunderlich Securities, Inc. acted as joint book running managers and Maxim Group LLC and National Securities Corporation, a wholly owned subsidiary of National Holdings, Inc., acted as co-managers. Magnum Hunter expects to close the offering on September 12, 2012.

Magnum Hunter Resources is an oil and gas company engaged mainly in the exploration for and the exploitation, acquisition, development and production of natural gas and natural gas liquids resources, along with certain oil field service activities and a substantial investment in midstream operations. Co.'s Appalachian Basin drilling operations are focused on development in Marcellus Shale and Utica Shale underlying West Virginia and Ohio. As of Dec 31 2014, Co. had about 83.8 million barrels of oil equivalent of estimated proved reserves. Co.'s proved reserves consisted of 10.5 million barrels (mmbbl) of oil, 14.4 mmbbls of natural gas liquids, and 353.00 billion cubic feet of natural gas.

Preferreds: MHR.PRC, MHR.PRD, MHR.PRE


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Name: Magnum Hunter Resources Corp (DE)
Website: magnumhunterresources.com
Sector: Oil & Gas Exploration & Production

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