Magnum Hunter Announces Pricing of Preferred Offering
Magnum Hunter Resources (NYSE: MHR) announced today that it has priced an underwritten public offering of depositary shares ("Depositary Shares"), each representing a 1/1,000th interest in a share of its 8% Series E Cumulative Convertible Preferred Stock (with a liquidation preference of $25,000 per share, which is equivalent to $25 per Depositary Share) (the "Series E Preferred Stock"). The Company is offering 1,000,000 Depositary Shares at a public offering price of $23.50 per share. In connection with the offering, UBS Investment Bank, MLV & Co. LLC and Wunderlich Securities, Inc. have acted as joint book running managers.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.