8 Dec 2017capital raising announcement● NeutralMajor
Bill Barrett sold 21,000,000 new shares to the public at $5.00 each through J.P. Morgan, closing December 8, 2017, for net proceeds of about $100.3 million. Underwriters hold an option for 3,150,000 more shares. The filing also fixes the 7% 2022 notes exchange at 10,863,083 shares for $50 million of notes. Both add to the share count, diluting existing holders. The filing does not state how the proceeds will be used.