BofA Merrill Lynch and Wells Fargo Securities are bookrunning managers
By Devika Patel
Knoxville, Tenn., Nov. 20 – CorEnergy Infrastructure Trust, Inc. said the underwriters for its public offering of stock opted to exercise the deal’s $13.26 million greenshoe in full, lifting total proceeds to $101.66 million. The deal was announced Monday and priced for $88.4 million with the greenshoe on Wednesday.
The company sold 14.95 million common shares at $6.80 apiece. The price per share is identical to the Nov. 18 closing share price. Of the shares, 1.95 million were part of the fully exercised greenshoe.
BofA Merrill Lynch and Wells Fargo Securities LLC were the bookrunning managers.
Settlement is expected Nov. 24.
Proceeds will be used for part of the $125 million purchase price of the MoGas Pipeline System, an interstate natural gas pipeline system.
The energy infrastructure asset financing company is based in Leawood, Kan.
| Issuer: | CorEnergy Infrastructure Trust, Inc.
|
| Issue: | Common shares
|
| Amount: | $101.66 million, including $13.26 million greenshoe
|
| Shares: | 14.95 million
|
| Price: | $6.80
|
| Warrants: | No
|
| Bookrunners: | BofA Merrill Lynch and Wells Fargo Securities LLC
|
| Announcement date: | Nov. 17
|
| Pricing date: | Nov. 19
|
| Settlement date: | Nov. 24
|
| Stock symbol: | NYSE: CORR
|
| Stock price: | $6.80 at close Nov. 18
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
