Linn Energy has launched a 16 million-unit public equity sale priced at $11.79/unit for estimated gross of $188.6 million. A 2.4 million-unit option could contribute another $28.3 million to gross if exercised. Net proceeds of $181 million (or $208 million with the option) will be used to repay Linn revolver debt. The sale amounts to a 5% dilution to common units assuming no exercise of the option. Units were priced 5% below the prior......
Provide your credentials to access this page
Member Area: Log in if you have a PLS web account or Sign up for internet access now.