Market Overview

CorEnergy Infrastructure Trust Announces 18.5M Shares Offering

CorEnergy Infrastructure Trust (NYSE: CORR) today
announced that it intends to offer, subject to market and other
conditions, 18,500,000 shares of its common stock in an
underwritten public offering. CorEnergy also intends to allow the
underwriters a 30-day option to purchase up to an additional 2,775,000
shares of the common stock, at the public offering price, less the
underwriting discount.

CorEnergy intends to use the net proceeds from the offering to finance a
portion of the $225 million purchase price of the previously announced
anticipated acquisition of a Liquids Gathering System (“LGS”) located in
the Pinedale field in southwest Wyoming from a wholly-owned subsidiary
of Ultra Petroleum Corp. (NYSE: UPL).

See full press release

Posted-In: News Guidance Management Global

 

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