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Article: Penn Virginia Corporation Announces Pricing of Secondary Public Offering of Common Units of Penn Virginia GP Holdings, L.P.
- Article from:
- Mining & Minerals
- Article date:
- October 2, 2009
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Penn Virginia Corporation (NYSE:PVA) announced that Penn Virginia Resource GP Corp., an indirect wholly owned subsidiary, has priced the underwritten public offering of 8,695,655 common units representing limited partner interests in Penn Virginia GP Holdings, L.P. (NYSE:PVG) at $12.30 per unit. The underwriters have also been granted a 30-day option to purchase up to 1,304,345 additional common units to cover over-allotments, if any.
PVA intends to use the net proceeds from the offering of approximately $102.7 million to repay the outstanding balance under its revolving ...