Finance - Equity
The company received approximately $20 million in total net proceeds from the over-allotment option.
Gross proceeds will be used to finance the company's share of the third earning well under a previously announced farm-in agreement to develop Cardium production with a private company in the Pembina area.
Targa will not receive any of the proceeds from the IPO.
White Deer will purchase $60 million of the company's 12% cumulative redeemable preferred stock.
Total proceeds from the offering are approximately $99.4 million.