Preferred Stock OfferingsBy Preferred Stock Channel Staff, updated Thu, December 2, 11:07 AM
|This Slide: #354 of 573|
Slide #354. Southwestern Energy Company — Preferred Stock Offering
Southwestern Energy Company (NYSE:SWN)
Date of Pricing:
Price Per Share:
Preferred Stock Offering Details:
The depositary shares entitle the holders, through the bank depositary, to a proportional fractional interest in the rights and preferences of the Series B Mandatory Convertible Preferred Stock, including conversion, dividend, liquidation and voting rights, subject to certain limited exceptions. Unless converted earlier at the option of the holders, each share of Series B Mandatory Convertible Preferred Stock (and, correspondingly, each depositary share) will automatically convert into a variable number of shares of common stock on or around January 15, 2018. The conversion rates, dividend rate and other terms of the Series B Mandatory Convertible Preferred Stock will be determined at the time of pricing of the offering of the depositary shares.
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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Hold (2.13 out of 4)
(ranked lower than approx. 100% of all stocks covered)
Based on data provided by Zacks Investment Research via Quandl.com