Jones Energy Inc. (NYSE: JONE) priced its public offering of 21 million Class A common shares at $2.77 each, and its public offering of 1.6 million 8% Series A convertible preferred shares at $50 each, the company said Aug. 19.
The offerings were upsized from 14 million Class A shares and 1 million convertible shares.
Underwriters received a 30-day option to purchase 3.15 million additional Class A shares and 240,000 convertible shares, respectively.
The offers are scheduled to settle and close on Aug. 26.
Jones expects about $132.2 million in net proceeds, which it will use to fund part of the $136.5 million purchase price of assets in the Stack/Scoop play in Oklahoma.
Credit Suisse Securities (USA) LLC and J.P. Morgan Securities LLC are joint book-running managers for both offerings. GMP Securities LP and Johnson Rice & Co. LLC are co-managers for the Class A stock offering.
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