Jones Energy, Inc. Prices Upsized Public Offering of 21,000,000 Shares of Class A Common Stock and 1,600,000 Shares of 8% Series A Perpetual Convertible Preferred Stock

AUSTIN, Texas, Aug. 19, 2016 (GLOBE NEWSWIRE) -- Jones Energy, Inc. (NYSE:JONE) (“Jones Energy” or the “Company”) announced today the pricing of its previously announced underwritten public offerings of 21,000,000 shares of its Class A common stock at $2.77 per share and 1,600,000 of its 8% Series A Perpetual Convertible Preferred Stock (the “Convertible Preferred Stock”) having an offering price and liquidation preference of $50 per share. The offerings were upsized from the previously announced offerings of 14,000,000 shares of Class A common stock and 1,000,000 shares of Convertible Preferred Stock. The Company has granted the underwriters a 30-day option to purchase up to an additional 3,150,000 shares of Class A common stock and 240,000 shares of Convertible Preferred Stock in the respective offerings. Both offerings are expected to settle and close on August 26, 2016, subject to customary closing conditions.

The Company expects to receive approximately $132.2 million in net proceeds from the offerings and intends to use the net proceeds from the offerings to fund a portion of the $136.5 million purchase price of the Company’s previously announced acquisition of oil and gas properties located in the STACK/SCOOP play in Central Oklahoma.

Credit Suisse Securities (USA) LLC and J.P. Morgan Securities LLC are acting as joint book-running managers for both offerings. GMP Securities L.P. and Johnson Rice & Company L.L.C. are acting as co-managers for the offering of Class A common stock. When available, copies of the prospectus supplement for the offering may be obtained on the website of the Securities and Exchange Commission ("SEC"), www.sec.gov, or by contacting the underwriters as follows:

Credit Suisse Securities (USA) LLC
Attention: Prospectus Department
One Madison Avenue
New York, NY 10010
Telephone: (1-800-221-1037)
Email: newyork.prospectus@credit-suisse.com 

J.P. Morgan Securities LLC
via Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, New York, 11717
Telephone: (866) 803-9204
E-mail: prospectus-eq_fi@jpmchase.com 

The Class A common stock and the Convertible Preferred Stock will be issued and sold pursuant to an effective shelf registration statement on Form S-3 previously filed with the SEC.

This press release does not constitute an offer to sell or a solicitation of an offer to buy Class A common stock, Convertible Preferred Stock or any other securities, nor shall there be any sale of these securities in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The offering of these securities may be made only by means of a prospectus and related prospectus supplement meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

About Jones Energy

Jones Energy, Inc. is an independent oil and natural gas company engaged in the development and acquisition of oil and natural gas properties in the Anadarko and Arkoma basins of Texas and Oklahoma.

Investor Contact:
Cathleen King, 512-493-4834
Investor Relations 
Or
Robert Brooks, 512-328-2953
Executive Vice President & CFO