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Slideshow Preferred Stock Offerings

By Preferred Stock Channel Staff, updated Wednesday, October 23, 6:32 AM

Slide #254. Southwestern Energy Company Preferred Stock Offering

Company: Southwestern Energy Company (NYSE:SWN)
Date announced: 1/12/2015
Shares Offered: 26,086,957
Date of Pricing: 1/15/2015
Price Per Share: $23.00
Preferred Stock Offering Details: Southwestern Energy Company (NYSE: SWN) today announced that it is commencing registered underwritten public offerings of 20,260,000 shares of its common stock and 26,000,000 depositary shares, each of which represents a 1/20th interest in a share of Southwestern Energy's Series B Mandatory Convertible Preferred Stock, with a liquidation preference of $1,000 per share (equivalent to a $50 liquidation preference per depositary share). Southwestern Energy will grant the respective underwriters a 30-day option to purchase up to 3,039,000 additional shares of its common stock and, solely to cover over-allotments, up to 3,900,000 additional depositary shares. The offering of the common stock is not contingent upon the offering of the depositary shares, and the offering of the depositary shares is not contingent upon the offering of the common stock. The proceeds from the offerings will be used to partially repay borrowings under Southwestern Energy's $4,500,000,000 364-day bridge term loan facility.

Southwestern Energy is a holding company. Through its subsidiaries, Co. is an independent energy company engaged in exploration, development and production activities, including the related marketing of natural gas, oil and natural gas liquids (NGLs) produced in its operations. Co.'s primary business is the exploration for, and production of, natural gas, oil and NGLs. Co.'s operations in northeast Pennsylvania are primarily focused on the unconventional natural gas reservoir known as the Marcellus Shale, and its operations in West Virginia and southwest Pennsylvania are focused on the Marcellus Shale, the Utica and the Upper Devonian unconventional natural gas, oil and NGL reservoirs.
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Name:  Southwestern Energy Company
Website:  www.swn.com
Sector:  Oil & Gas Exploration & Production
Number of ETFs Holding SWN:  58 (see which ones)
Total Market Value Held by ETFs:  $239,349,498
Total Market Capitalization:  $1,088,000,000
% of Market Cap. Held by ETFs:  22.00%
 

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