3TEC Energy Corporation Announces Public Offering of 7,000,000 Shares.Business & Energy Editors HOUSTON--(BUSINESS WIRE)--June 27, 2000 3TEC Energy Corporation ("3TEC") (Nasdaq:TTEN TTEN Thermoanaerobacter Tengcongensis ) announced today that it has commenced a public offering of 7,000,000 shares of its common stock at a price of $9.00 per share. Bear, Stearns & Co. Inc. is serving 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. is joint lead manager. Prudential Securities and First Union Securities Inc. are 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 The San Juan Basin is a drainage basin and geologic structural basin in the Four Corners region of the Southwestern United States; its main portion covers around 4,600 square miles, encompassing much of northwestern New Mexico, northeastern Arizona, and parts of Colorado and Utah. 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 (plus an additional 1,050,000 shares subject to an option granted by 3TEC to the underwriters to cover any over-allotments) was filed with and declared effective by the Securities and Exchange Commission. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion