ATP Oil & Gas Corp. - 2011-06-15
Description
The company has commenced a public offering of approximately $150 million of convertible perpetual preferred stock. The underwriters for the offering will also have a 30-day option to purchase up to 225,000 additional shares of convertible perpetual preferred stock to cover any over-allotments.
The convertible perpetual preferred stock has a liquidation preference of $100 per share and will be convertible into shares of ATP common stock at a $22.20 conversion price. ATP intends to use the net proceeds from this offering to fund capital expenditures and for general corporate purposes.
Credit Suisse Securities (USA) LLC will act as book-running manager for the offering.