Monday, October 5, 2015

Energy XXI Files Registration Statement for Mixed Offering ($EXXI)

Link

"Energy XXI Ltd may, in one or more offerings, offer and sell, from time to time, its common stock, $0.005 par value per share, its preferred stock, $0.001 par value per share, and depositary shares.

Energy XXI Gulf Coast, Inc. may, in one or more offerings, offer and sell, from time to time, its debt securities, which will be fully and unconditionally guaranteed by Energy XXI and may be so guaranteed by one or more of Energy XXI’s subsidiaries.

Additionally, we may, in one or more offerings, offer and sell, from time to time, the following securities: (i) warrants to purchase any of the other securities that may be sold under this prospectus; (ii) rights to purchase Energy XXI’s common stock, Energy XXI’s preferred stock and/or the debt securities of EGC; and (iii) units consisting of one or more classes of the securities described above.

The aggregate offering price of all securities sold by us under this prospectus will not exceed $500 million."
Dilution coming?

1 comment:

CP said...

Last week

Bruce Busmire - Energy XXI Ltd. - CFO
Sure, Mike. We really think that we need in excess of $1 [billion] of debt off our balance sheet equating to somewhere in the $4.50 to $5 a barrel in interest costs.