30 Oct 2009capital raising announcement● NeutralMajor
Vermilion closed an equity offering of 7,282,000 trust units at $30.90 each for gross proceeds of $225 million, with underwriters holding an option for 809,000 more units (up to $25 million). Proceeds will first reduce debt and later fund development programs and possible acquisitions. For existing unitholders this means more units outstanding.