New Source Energy Corp. Launches Initial Public Offering
(Thomson Reuters ONE) -
NEW SOURCE ENERGY CORPORATION LAUNCHES INITIAL PUBLIC OFFERING
OKLAHOMA CITY - April 24, 2012 - New Source Energy Corporation (New Source)
announced today the commencement of its initial public offering of 9,100,000
shares of its common stock at an anticipated initial public offering price
between $10.00 and $12.00 per share. New Source will also grant the
underwriters a 30-day option to purchase up to an additional 1,365,000 shares of
common stock at the initial public offering price, to cover over-allotments, if
any. The shares of common stock will be listed on the New York Stock Exchange
and will trade under the symbol "NSE."
New Source plans to use the net proceeds from the offering to repay outstanding
indebtedness under its credit facility (which may be reborrowed from time to
time), to pay certain withholding taxes and to fund its development program and
acquisitions.
BMO Capital Markets Corp. and KeyBanc Capital Markets Inc. are acting as joint
book-running managers for the proposed offering. SunTrust Robinson Humphrey,
Inc. and Johnson Rice & Company L.L.C. are serving as lead managers, and Robert
W. Baird & Co. Incorporated is serving as co-manager.
New Source has filed a registration statement, including a prospectus, with the
Securities and Exchange Commission (SEC) for the offering, but the registration
statement has not yet become effective. These securities may not be sold, nor
may offers to buy be accepted, prior to the time the registration statement
becomes effective.
Before you invest, you should read the prospectus in the registration statement
and other documents New Source has filed with the SEC for more complete
information about New Source and this offering. You may obtain these documents
for free by visiting EDGAR on the SEC website at www.sec.gov, and searching
under the registrant's name, "New Source Energy Corporation." Alternatively,
copies of the prospectus may be obtained by contacting the following:
BMO Capital Markets Corp.
Attn: Prospectus Department
3 Times Square, 27(th) Floor
New York, NY 10036
bmoprospectus(at)bmo.com
KeyBanc Capital Markets Inc.
Attn: Prospectus Delivery Department
127 Public Square, 6th Floor
Cleveland, OH 44114
This press release shall not constitute an offer to sell or a solicitation of an
offer to buy any securities, nor shall there be any sale of these securities, in
any state or jurisdiction in which such an offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities laws of any
such state or jurisdiction.
About New Source Energy Corporation
Based in Oklahoma City, New Source is an independent energy company engaged in
the development and production of onshore oil and liquids-rich natural gas
projects in the United States. Its assets and operations are located in east-
central Oklahoma.
This press release includes certain statements that may be deemed to be
"forward-looking statements" within the meaning of federal securities laws. All
statements, other than statements of historical facts, included in this press
release that address activities, events or developments that New Source expects,
believes or anticipates will or may occur in the future are forward-looking
statements. They include statements regarding New Source's intended application
of the proceeds of the offering, if successful. Such statements are subject to
a number of risks, including prevailing market conditions for securities like
New Source's common stock as well as risks specific to New Source's business and
securities. Reference is made to New Source's registration statement filed with
the SEC for a more detailed disclosure of those risks. For all of these
reasons, actual results or developments, including the success of the proposed
offering and the terms of the securities issued, may differ materially from
those projected in the forward-looking statements.
New Source Energy Corporation - Investor & Media Contact
Russon Holbrook
Director of Investor Relations & Corporate Development
(405) 272-3028
rholbrook(at)newsource.com
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: New Source Energy Corp. via Thomson Reuters ONE
[HUG#1605248]
Unternehmensinformation / Kurzprofil:
Datum: 24.04.2012 - 12:02 Uhr
Sprache: Deutsch
News-ID 138611
Anzahl Zeichen: 5169
contact information:
Town:
New Hempstead
Kategorie:
Business News
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