Vine Energy announced the pricing of $950 million in 6.75% senior unsecured notes due 2029. The offering, set to close on April 7, 2021, aims to redeem existing higher-interest senior notes and cover related expenses. The new notes are available to qualified institutional buyers under Rule 144A and non-U.S. investors under Regulation S. This move is part of Vine Energy's strategy to manage its debt profile more effectively. The company operates in the natural gas sector, focusing on developments in the Haynesville Basin.
Vine Energy Inc. announced that its subsidiary, Vine Energy Holdings LLC, plans to offer $950 million in senior unsecured notes due 2029. The proceeds will fund the redemption of outstanding 8.75% and 9.75% Senior Notes due 2023 and cover related expenses. The offering targets qualified institutional buyers and is exempt from registration under the Securities Act. This press release includes forward-looking statements, cautioning that actual results may differ due to various risks and uncertainties.
Vine Energy announced the full exercise of an underwriters' option for its IPO, increasing the offering by 3,225,000 shares of Class A common stock at $14.00 per share. This results in additional net proceeds of approximately $43 million. The IPO originally included 21,500,000 shares and was managed by Citigroup, Credit Suisse, Morgan Stanley, Barclays, BofA Securities, and RBC Capital Markets. The offering’s registration statement has been declared effective by the SEC.
Vine Energy focuses on natural gas properties in the Haynesville Basin, located in Northwest Louisiana.
Vine Energy Inc. has priced its initial public offering (IPO) of 21,500,000 shares of Class A common stock at $14.00 per share. Trading under the ticker symbol VEI is set to commence on the New York Stock Exchange on March 18, 2021. The company will receive approximately $280.8 million in net proceeds, which will be used to repay certain credit facilities and for general corporate purposes. An additional 3,225,000 shares may be purchased by underwriters within 30 days of the offering's close on March 22, 2021. Citigroup and others are joint book-running managers for this offering.
Vine Energy Inc. has announced the launch of an initial public offering (IPO) for 18,750,000 shares of its Class A common stock, expected to be priced between $16.00 and $19.00 per share. The company also provides underwriters with a 30-day option to purchase up to 2,812,500 additional shares. Proceeds from the IPO will be used to repay existing credit facilities and for general corporate purposes. Vine plans to list on the New York Stock Exchange under the ticker symbol VEI.