•  
  •  
  •  
  •  
  •  
  • Untitled Document
    Untitled Document

    FX Energy prices public offering of Series B preferred stock

    FX Energy Inc.

    FX Energy Inc. (NASDAQ: FXEN) has priced an underwritten public offering of 800,000 shares of its 9.25% Series B cumulative convertible preferred stock at a public offering price of $25.00 per share. 

    Holders of Series B preferred stock may convert their shares, in whole or in part, into shares of the company's common stock at a conversion price of $5.00 per share. The company may cause conversion of the Series B preferred stock if the trading price of its common stock exceeds $6.00 for 20 trading days in any consecutive 30-trading-day period. 

    Gross proceeds to the company are expected to be $20 million before deducting the underwriting discount and other estimated offering expenses payable by the company. The offering is expected to close on or about July 17.

    In connection with the offering, the company intends to grant the underwriters a 30-day option to purchase additional shares of Series B preferred stock to cover over-allotments, if any.

    FX Energy intends to use the net proceeds from the offering primarily to fund seismic and new drilling costs near its Tuchola prospect, which is located in the Edge license in north central Poland, where the company holds 100% working interest in 730,000 acres.

     

     

     

    Related Articles

    FX Energy updates on drilling progress in Poland

    09/05/2013 FX Energy Inc. reports that drilling in western Poland’s Permian Basin has started at the Lisewo-2 well, a development well that targets the Lisewo structure previously discovered by the Lisewo-1 w...

    FX Energy closes new Senior Credit facility

    07/16/2013 FX Energy Inc. (NASDAQ: FXEN) has finalized a new five-year, $100 million (maximum) Senior Reserve Based Lending Facility. BNP Paribas (BNPP) acted as coordinating mandated lead arranger. ING Bank,...

    FX Energy reports results of Plawce-2 well test in Poland

    07/10/2013 FX Energy Inc. (NASDAQ: FXEN) has reported that testing of three fracked Rotliegend intervals in the Plawce-2 well has been completed. PGNiG SA, the national oil company in Poland, is the oper...

    American Eagle, FX Energy to evaluate Alberta Bakken acreage

    05/09/2011

    FX Energy Inc. has signed an agreement with American Eagle Energy Inc., and Big Sky Operating LLC, to jointly explore approximately 75,000 acres in the Alberta Bakken in Northwest Montana.

    FX Energy to begin Polish drilling soon

    05/12/2009 FX Energy will begin drilling the Ostrowiec well in western Poland in roughly two weeks. The well will be drilled by Pila Drilling, a wholly-owned subsidiary of the Polish Oil and Gas Co. (POGC).

    More Oil & Gas Financial Articles

    FX Energy updates on drilling progress in Poland

    Thu, Sep 5, 2013

    FX Energy Inc. reports that drilling in western Poland’s Permian Basin has started at the Lisewo-2 well, a development well that targets the Lisewo structure previously discovered by the Lisewo-1 well.

    FX Energy closes new Senior Credit facility

    Tue, Jul 16, 2013

    FX Energy Inc. (NASDAQ: FXEN) has finalized a new five-year, $100 million (maximum) Senior Reserve Based Lending Facility. BNP Paribas (BNPP) acted as coordinating mandated lead arranger. ING Bank, present in FX Energy's previous syndicated financing, acted as mandated lead arranger.

    FX Energy reports results of Plawce-2 well test in Poland

    Wed, Jul 10, 2013

    FX Energy Inc. (NASDAQ: FXEN) has reported that testing of three fracked Rotliegend intervals in the Plawce-2 well has been completed. PGNiG SA, the national oil company in Poland, is the operator and owns 51% of the working interest in the Fences concession, which covers 850,000 acres or 1,647 square kilometers; FX Energy owns 49% of the working interest.



    American Eagle, FX Energy to evaluate Alberta Bakken acreage

    Mon, May 9, 2011

    FX Energy Inc. has signed an agreement with American Eagle Energy Inc., and Big Sky Operating LLC, to jointly explore approximately 75,000 acres in the Alberta Bakken in Northwest Montana.

    FX Energy to begin Polish drilling soon

    Tue, May 12, 2009

    FX Energy will begin drilling the Ostrowiec well in western Poland in roughly two weeks. The well will be drilled by Pila Drilling, a wholly-owned subsidiary of the Polish Oil and Gas Co. (POGC).

    Most Popular

    Oil & Gas Jobs

    Search More Job Listings >>
    Subscribe to OGFJ