Arena Resources, Inc. Announces Completion of $100,450,000 Registered Direct Common Stock Offering.TULSA, Okla. -- Arena Resources, Inc. (NYSE NYSE See: New York Stock Exchange : ARD Ard (ärd), in the Bible. 1 Son of Benjamin. 2 Benjamite, perhaps the same as (1.) An alternate form is Addar. ) today announced that it has completed its sale of 2,050,000 shares of its common stock through a registered direct offering for $49.00 per share with selected institutional investors, resulting 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). of approximately $95.3 million. Dahlman Rose & Company, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control acted as lead, book running placement agent for the offering with SunTrust Robinson Humphrey, Capital One Southcoast, Inc., C.K. Cooper & Company and Pritchard Capital Partners, LLC acting as co-placement agents. The common shares were issued pursuant to the Company's effective shelf registration statement previously filed with 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. supplement relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc this offering may be obtained from Dahlman Rose & Company, LLC, 142 West 57th Street, 18th Floor, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , New York 10019. Arena intends to use the net proceeds from the offering for debt repayment, drilling and development of its current properties, capital expenditures and general working capital. This press 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 state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. About Arena Resources, Inc. Arena Resources, Inc. is an oil and gas exploration, development and production company with current operations in Texas, Oklahoma, Kansas, and New Mexico. This release contains forward-looking statements within the meaning of the "safe-harbor" provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 that involve a wide variety of risks and uncertainties, including, without limitations, statements with respect to the Company's strategy and prospects. Readers and investors are cautioned that the Company's actual results may differ materially from those described in the forward-looking statements due to a number of factors, including, but not limited to, the Company's ability to acquire productive oil and/or gas properties or to successfully drill and complete oil and/or gas wells on such properties, general economic conditions both domestically and abroad, and the conduct of business by the Company, and other factors that are more fully described in the prospectus supplement relating to the offering under the headings "Cautionary Note Regarding Forward-Looking Statements" and "Risk Factors", and in additional documents the Company has filed with the Securities and Exchange Commission. |
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