UPDATE: CorEnergy Plans Offering of 18.5 Million Shrs To Fund Buy; Shares Down 9.5%, Near 52 Week Lows

By
A A A

Corenergy Infrastructure Trust Inc. ( CORR ) is down 9.5% and closer to a 52 week low of $7.33 after announcing that it intends to offer, subject to market and other conditions, 18.5 million shares of its common stock in an underwritten public offering.

The company intends to use the net proceeds from the offering to finance a portion of the $225 million purchase price of the previously announced anticipated acquisition of a Liquids Gathering System in the Pinedale field in southwest Wyoming from a wholly-owned subsidiary of Ultra Petroleum Corp. ( UPL ).



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


This article appears in: Investing , Commodities

Referenced Stocks: CORR , UPL

MT Newswires

MT Newswires

More from MT Newswires:

Related Videos

How to Fire Your Adviser
How to Fire Your Adviser            

Stocks

Referenced

Most Active by Volume

64,159,633
  • $100.86 ▼ 0.76%
63,552,623
  • $16.71 ▼ 0.18%
60,140,251
  • $42.71 ▲ 0.38%
52,385,870
  • $17.51 ▲ 5.86%
50,329,585
  • $13.75 ▲ 29.84%
43,337,551
  • $16.16 ▼ 1.40%
40,126,911
  • $3.605 ▲ 0.56%
39,836,742
  • $3.81 ▼ 2.56%
As of 9/16/2014, 04:15 PM

Find a Credit Card

Select a credit card product by:
Select an offer:
Search
Data Provided by BankRate.com