PDC Energy, Inc. (Nasdaq:PDCE) today announced that it has closed its previously announced concurrent underwritten public offerings of (i) 9,085,000 shares of its common stock (the “common stock”), which number of shares includes 1,185,000 shares issued pursuant to the exercise of the underwriters’ overallotment option, and (ii) $200 million aggregate principal amount of its convertible senior notes due 2021 (the “notes”), which aggregate principal amount includes $25 million issued pursuant to the exercise of the underwriters’ overallotment option. The net proceeds from the common stock offering were approximately $558.8 million and the net proceeds from the notes offering were approximately $194.5 million, in each case after deducting underwriters’ compensation (but before estimated expenses). J.P. Morgan, BofA Merrill Lynch, BMO Capital Markets and Wells Fargo Securities acted as joint book-running managers for the offerings.
The offerings were made pursuant to an effective shelf registration statement previously filed with the Securities and Exchange Commission. Each offering was made by means of a separate prospectus supplement and the accompanying prospectus, copies of which may be obtained by sending a request to: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, email: prospectus-eq_fi@jpmchase.com.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale of these securities would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
