(Source: PRNewswire)
HOUSTON, Aug. 5 /PRNewswire-FirstCall/ -- Petrohawk Energy Corporation (NYSE: HK) ("Petrohawk") today announced that it has priced its public offering of 25,000,000 shares of common stock at the market close price of $22.86 per share. The Company has granted the underwriters a 30-day option to purchase up to an additional 3,750,000 shares of common stock. The offering is expected to settle and close on August 11, 2009, subject to customary closing conditions.
Net proceeds from the offering are expected to fund potential acquisitions, a portion of our capital budget and general corporate purposes including repayment of borrowings under our revolving credit facility.
Barclays Capital and J.P. Morgan are acting as joint book- running managers of the offering. Copies of the final prospectus supplement and the accompanying base prospectus may be obtained from: Barclays Capital Inc., c/o Broadridge, Integrated Distribution Services, 1155 Long Island Avenue, Edgewood, New York 11717 (email: Barclaysprospectus@broadridge.com; phone: 888-603-5847), or from J.P. Morgan Securities Inc. at 4 Chase Metrotech Center, CS Level, Brooklyn, New York 11245, Attn: Chase Distribution and Support Service, Northeast Statement Processing (phone: 718-242-8002; fax: 718-242-8003).
The shelf registration statement relating to the foregoing has previously been filed with the U.S. Securities and Exchange Commission and became effective upon filing. This press release does not constitute an offer to sell or a solicitation of an offer to buy the shares of common stock or any other securities, nor will there be any sale of the shares of common stock or any other securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Petrohawk Energy Corporation is an independent energy company engaged in the acquisition, production, exploration and development of natural gas and oil with properties concentrated in North Louisiana, Arkansas, East Texas, South Texas, Oklahoma and the Permian basin.
For more information contact Joan Dunlap, Vice President - Investor Relations, at (832) 204-2737 or jdunlap@petrohawk.com.
Additional Information for Investors
This press release contains forward-looking statements within the meaning of the federal securities laws. Petrohawk cautions you that any statements contained in this press release that are not strictly historical statements constitute forward-looking statements. Such forward looking statements include, but are not limited to, Petrohawk's expectations regarding the completion, timing and size of the proposed public offering. These statements are based upon current beliefs or expectations and are subject to various risks and uncertainties, including those set forth in Petrohawk's registration statement and other filings with the U.S. Securities and Exchange Commission, including the Annual Report on Form 10-K for the fiscal year ended December 31, 2008 and Quarterly Reports on Form 10-Q for the quarters ended March 31, 2009 and June 30, 2009 (copies of which may be obtained from the SEC's website at http://www.sec.gov). Readers should not place undue reliance on any such forward-looking statements, which are made only as of the date hereof. Petrohawk undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events or changes in Petrohawk's expectations.
SOURCE Petrohawk Energy Corporation
Originally published by Petrohawk Energy Corporation.
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