Carrizo sets price for public offering of 2.3 million shares
Carrizo Oil & Gas Inc. has priced a public offering of about 2.3 million shares at $54.50 per share.
The per share price is 1 percent lower than the Houston-based energy company's Feb. 13 closing price of $55.14. The company's stock opened Thursday at $54.95 per share.
Underwriters have the option of purchasing up to 337,500 additional shares to cover over-allotments 500 fast cash.
If all of the shares sell, proceeds will total $1.2 billion.
Carrizo (NASDAQ: CRZO) said proceeds from the sale will be used to fund its leasing and drilling program as well as to pay down debt.