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Gastar Launches Financing To Fund Acquisitions

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October 28, 2013

Gastar Exploration Ltd. (NYSE: GST) announced Oct. 28 that its subsidiary is commencing an underwritten public offering of series B cumulative preferred stock, the proceeds of which will help pay for a recent acquisition.

In connection with the offering, Gastar Exploration USA Inc. intends to grant the underwriters a 30-day option to purchase additional shares of series B cumulative preferred stock to cover over-allotments, if any.

Net proceeds will be used to partially fund its ongoing capital expenditure program, including some of the costs associated with the previously announced acquisition of 24,000 net acres of ...

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