3TEC Energy Corporation Announces Exercise of Over-allotment by Underwriters.Business/Energy Editors HOUSTON--(BUSINESS WIRE)--July 6, 2000 3TEC Energy Corporation ("3TEC") (Nasdaq:TTEN TTEN Thermoanaerobacter Tengcongensis ) announced today that the underwriters of its recent public offering have exercised in full their over-allotment option to purchase an additional 1,050,000 shares of common stock. The completion of the offering results in the total sale of 8,050,000 common shares for approximately $72.5 million, which, after deducting underwriting discounts and expenses, provided 3TEC approximately $67.2 million in net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). . Bear, Stearns & Co. Inc. served as joint lead manager and sole book runner Book Runner The managing or lead underwriter who maintains the books of securities sold for a new issue. Notes: In other words, this person is the underwriter who "runs" the books. Often the book runner is given credit for the total size of the deal. for the offering. CIBC World Markets CIBC World Markets is the investment banking division of the Canadian Imperial Bank of Commerce. It helps governments, large companies, and other large institutions obtain capital and credit and is a primary dealer in U.S. Treasury securities. served as joint lead manager. Prudential Securities and First Union Securities Inc. served as co-managers. 3TEC Energy Corporation is engaged in the acquisition, development, production and exploration of oil and natural gas, with properties geographically concentrated in East Texas and the Gulf Coast regions. 3TEC also owns significant properties in the Permian and San Juan basins and in the Mid-Continent region. A registration statement relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc these securities has been filed with and declared effective by the Securities and Exchange Commission. Copies of the final prospectus Final Prospectus A legal document stating the price of a newly issued security, the delivery date, and other facts that are important for investors. Notes: The final prospectus must be given to every investor who purchases a new issue of registered securities. related to the offering may be obtained from the Prospectus Department of Bear, Stearns & Co. Inc. This news release shall not constitute an offer to sell or the solicitation of an offer to buy the common stock of 3TEC, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. |
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