Gastar Exploration Ltd. - 2010-12-07
Description
Plans to offer 12 million of its common shares in an underwritten offering. Net proceeds will be used to fund the $28.8-million purchase price for its recently announced Marcellus shale leasehold acquisition; to pay $18 million in settlement payments from recent litigation matter; and for working capital and general corporate purposes. Johnson Rice & Company LLC, Pritchard Capital Partners LLC and Tudor, Pickering, Holt & Co. are joint book-running managers; BMO Capital Markets and IBERIA Capital Partners LLC are co-managers.