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Penn Virginia Corp. Prices Depositary Shares Offer

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June 13, 2014

Penn Virginia Corp. (NYSE: PVA) priced an offering of 2.8 million depositary shares, each representing one-hundredth interest in a share of 6% Series B convertible perpetual preferred stock, the company said June 11.  

A total of about $264.2 million in net proceeds is expected from the private offering, the company said. The proceeds will finance its Eagle Ford Shale development program and increase lease acquisition efforts in the Eagle Ford Shale, the company said.

A monthlong option to purchase up to 500,000 depositary shares was granted to purchasers, PVA ...

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