Correction: Jan. 23 Double Eagle story |
|
|
|
Published
:
Wed, 24 Jan 2007 22:32
|
(AFX) - In a Jan. 23 story about a stock offer from Double Eagle Petroleum Co., The Associated Press reported erroneously that the offering was priced at a discount to the stock's Tuesday closing price of $21.89. Rather, the offer was priced Jan. 17 at the stock's closing price of $21.55.A corrected version of the story appears below.----------------------------------------------CASPER, Wyo. (AP) -- Oil and gas producer Double Eagle Petroleum Co. said Tuesday it raised proceeds of about $10.1 million from the sale of 500,000 common shares.Double Eagle sold the shares at $21.55 apiece -- the stock's closing price on Jan. 17, the day of the offer's pricing.The company originally offered 450,000 shares. However, the offering's sole underwriter, Ferris, Baker Watts Inc., exercised a 30-day option to buy up to an additional 50,000 shares to cover overallotments.Double Eagle has said it would use the proceeds to pay down debt.Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
|
|
|
|
Print this Story
Double Eagle sells $10.1 million shares 