Preferred Stock Channel
Market News Video Self Directed Investor The Warren Buffetts Next Door Stock message boards
Quotes delayed 20 minutes


Hold (1.71 out of 4)
100th percentile
(ranked higher than approx. 100% of all stocks covered)
Based on data provided by Zacks Investment Research via Quandl.com


If the video does not load after a few moments, Upgrade to the Latest Flash Player.
www.valueforum.com/7/
Free Preferred Stock Newsletter
Gain access to weekly reports with featured preferred stock screens, new preferred stock offerings, and more.

Slideshow Preferred Stock Offerings

By Preferred Stock Channel Staff, updated Friday, January 20, 6:54 AM

Slide #305. Penn Virginia Corporation Preferred Stock Offering

Company: Penn Virginia Corporation (PVA)
Date announced: 10/8/2012
Underwriters: Credit Suisse Securities (USA) LLC, RBC Capital Markets and Wells Fargo Securities and are acting as joint book-running managers and Capital One Southcoast, Inc. and Scotiabank / Howard Weil are acting as co-managers.
Shares Offered: 1,000,000.00
Date of Pricing: 10/12/2012
Price Per Share: $100
Preferred Stock Offering Details: Penn Virginia Corporation announced that it has commenced, subject to market and other conditions, concurrent underwritten public offerings of 12,000,000 shares of its common stock and $50 million of depositary shares each representing a fractional ownership interest in a share of convertible perpetual preferred stock. In connection with the offerings, PVA intends to grant the underwriters a 30-day option to purchase up to 1,800,000 additional shares of common stock and additional Preferred Equity depositary shares to cover overallotments. The closings of the common stock offering and the Preferred Equity offering are not contingent upon each other. --updated 10/12/12 -- Penn Virginia Corporation announced the pricing of concurrent public offerings of $40 million (8,000,000 shares) of its common stock and $100 million of depositary shares (1,000,000 shares) each representing a fractional ownership interest in a share of 6.00 percent convertible perpetual preferred stock (the "Preferred Equity"). Both offerings are expected to settle and close on October 17, 2012, each subject to customary closing conditions. In connection with the offerings, PVA has granted the underwriters a 30-day option to purchase up to 1,200,000 additional shares of common stock and 150,000 additional depositary shares to cover overallotments. The common stock offering was priced at $5.00 per share. PVA estimates that the net proceeds from the common stock offering will be approximately $38 million, after deducting underwriting commissions, but before expenses (or approximately $43 million, if the underwriters exercise their over-allotment option to purchase additional shares of common stock in full). The Preferred Equity depositary shares have a liquidation preference of $100.00 per share. PVA will pay cumulative dividends, in cash, stock or a combination thereof, on the depositary shares on a quarterly basis at a rate of $6.00 per share, or 6.00 percent, per year and the Preferred Equity depositary shares will be convertible at the option of the holder at an initial conversion rate of 16.6667 shares of PVA common stock per depositary share (equivalent to an initial conversion price of $6.00 per share of common stock). The conversion price represents a premium of 20 percent relative to the common stock offering price of $5.00 per share. Additionally, subject to certain conditions and after certain time periods, PVA may, at its option, cause all or a portion of the depositary shares to be automatically converted into shares of our common stock.

Penn Virginia is an independent oil and gas company engaged in the exploration, development and production of crude oil, natural gas liquid (NGL), and natural gas in various onshore regions of the U.S., primarily the Eagle Ford Shale in South Texas. Co.'s operations consist primarily of drilling unconventional horizontal development wells in the Eagle Ford Shale. Co. also has operations in the Granite Wash in Oklahoma, the Haynesville Shale and Cotton Valley in East Texas. As of Dec 31 2014, Co.'s proved reserves were approximately 115.0 million barrels of oil equivalent, of which 40% were proved developed reserves and 77% were oil and NGLs.
Open the PVA Page at Preferred Stock Channel »

Name:  Penn Virginia Corp
Website:  www.pennvirginia.com
Sector:  Oil & Gas Exploration & Production
 

Open the PVA Page at Preferred Stock Channel (in a new window) »

Top Ten Highest Yielding Preferred Stocks
Feel-Good Income: Socially Responsible Preferreds
Dividend Channel's 25 S.A.F.E. Dividend Stocks
Increasing Payments For Decades

Safer than S.A.F.E: Preferreds of Dividend Channel's
S.A.F.E. Dividend Stocks

Recent Preferred Stock Offerings
Preferred Stocks of Dow Components
Preferred Stocks of S&P 500 Components
Preferred Stocks By Industry
Preferred Stocks Where Insiders Are Buying The Common
High Yield Preferred Stocks
Preferreds Trading At Premiums To Liquidation Preference
Preferreds Trading At Discounts To Liquidation Preference
The Top 10 DividendRank'ed U.S. Stocks
The Top 10 DividendRank'ed Canadian Stocks
Top 25 Broker Analyst Picks of the S&P 500
Stock market game

Preferred Stock Offerings - Slide 305 of 338 | www.PreferredStockChannel.com | Copyright © 2011 - 2017, All Rights Reserved

Nothing in Preferred Stock Channel is intended to be investment advice, nor does it represent the opinion of, counsel from, or recommendations by BNK Invest Inc. or any of its affiliates, subsidiaries or partners. None of the information contained herein constitutes a recommendation that any particular security, portfolio, transaction, or investment strategy is suitable for any specific person. All viewers agree that under no circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held liable for any loss or damage caused by your reliance on information obtained. By visiting, using or viewing this site, you agree to the following Full Disclaimer & Terms of Use and Privacy Policy. Video widget and dividend videos powered by Market News Video. Quote data delayed at least 20 minutes; data powered by Ticker Technologies, and Mergent. Contact Preferred Stock Channel; Meet Our Editorial Staff.