ATP Oil & Gas Completes $98 Million Common Stock Offering and $140 Million Private Placement of Convertible Perpetual Preferred Stock
Cahill represented J.P. Morgan Securities Inc., Credit Suisse Securities (USA) LLC, and the other underwriters in the offering of 5.3 million shares of common stock of ATP Oil & Gas Corp. (NASDAQ: ATPG), generating gross proceeds of $98,050,000.
Cahill represented Credit Suisse Securities (USA) LLC, J.P. Morgan Securities Inc. and the other initial purchasers in the $140,000,000 private placement by ATP of 1,400,000 shares of a new series of 8.0% Convertible Perpetual Preferred Stock. Such shares include over-allotments, exercised by the initial purchasers prior to closing.
Aggregate proceeds will be used to fund capital expenditures (including ATP's Telemark location in the Gulf of Mexico), to reduce indebtedness and for general corporate purposes.