Atlas America, Inc. IPO Underwriters Exercise Over-Allotment Option.Energy Editors/Business Editors PHILADELPHIA--(BUSINESS WIRE)--June 1, 2004 Atlas America, Inc. (Nasdaq:ATLS ATLS Advanced Trauma Life Support ATLS Aerial Target Launch Ship )(the "Company") announced today that Friedman, Billings, Ramsey & Co. Inc., and KeyBanc Capital Markets, the underwriters of its IPO (Initial Public Offering) The first time a company offers shares of stock to the public. While not a computer term per se, many founders, employees and insiders of computer companies have found this acronym more exciting than any tech term they ever heard. , which priced at $15.50 per share on May 10, 2004, exercised their over-allotment option to purchase an additional 345,000 shares of the Company's common stock. The exercise of the option generated approximately $5 million in additional 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). , bringing the total net proceeds for the IPO to approximately $38.2 million. The net proceeds of the offering after deducting underwriting discounts, will be distributed to the Company's parent, Resource America, Inc. (Nasdaq:REXI), in the form of a repayment of inter-company debt and a non-taxable dividend. For more complete information about Atlas America, Inc. and the offering, you may obtain a prospectus by submitting requests to Ms. Kathy Innis, Friedman, Billings, Ramsey, 1001 19th Street, North Arlington, Virginia, 22209. Atlas America, Inc. is an energy company engaged primarily in the development, production and transportation of natural gas in the Appalachian Basin, and operates primarily in eastern Ohio and western Pennsylvania. Atlas America is the owner of 100% of the general partner of Atlas Pipeline Partners, L.P.(NYSE NYSE See: New York Stock Exchange :APL (A Programming Language) A high-level mathematical programming language noted for its brevity and matrix generation capabilities. Developed by Kenneth Iverson in the mid-1960s, it runs on micros to mainframes and is often used to develop mathematical models. ) and owns 1,641,026 limited partner units which represents approximately 32% of the limited partner units outstanding. APL owns and operates more than 1,380 miles of natural gas gathering pipelines in western Pennsylvania, western New York
Western New York refers to the westernmost region of New York State. and eastern Ohio. For more information, please visit our website at www.atlasamerica.com, or contact investor relations Investor relations The process by which the corporation communicates with its investors. at pschreiber@atlasamerica.com. Statements made in this release may include forward-looking statements, which involve substantial risks and uncertainties. The Company's actual results, performance or achievements could differ materially from those expressed or implied in this release. |
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