Energy & Exploration Partners Inc. (ENXP) announced that it has commenced an initial public offering of 15.76 million shares of its common stock, at an anticipated initial public offering price between $14 and $16 per share. ENXP is selling 15,000,000 shares of common stock in the offering. The common stock will be listed on the NYSE and traded under the symbol "ENXP."
ENXP intends to use the net proceeds it receives from the offering to fund acquisitions of additional oil and gas leases and to fund a portion of its 2012 and 2013 capital expenditure budget.
Canaccord Genuity Inc. and Johnson Rice & Company LLC are acting as joint book-running managers. Global Hunter Securities LLC, Stephens Inc., Capital One Southcoast Inc., Macquarie Capital (USA) Inc., Wunderlich Securities Inc., Knight Capital Americas LLC, C.K. Cooper & Co. Inc. and Guggenheim Securities LLC are serving as co-managers.
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