Firm Represents Underwriters in $247.3 Million Common Stock Offering by Delta Petroleum
05.15.09
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The Firm represented the underwriters, led by J.P. Morgan Securities Inc., BMO Capital Markets Corp. and Deutsche Bank Securities Inc., in connection with a registered public offering by Delta Petroleum Corporation of $247.3 million of common stock, including the underwriters' full exercise of their over-allotment option. As part of the transaction, two shareholders of Delta Petroleum committed to purchase an aggregate of approximately 40% of the shares offered. Because proceeds were used to repay certain of Delta Petroleum's lenders, including the underwriters, the offering involved KeyBanc Capital Markets Inc. as qualified independent underwriter in compliance with Financial Industry Regulatory Authority rules.
The Simpson Thacher team for the transaction included: Walt Looney, Grenfel Calheiros, Juan Mendez and Julia Kohen (Corporate), Andrew Pagliughi (FINRA and Blue Sky), Rian Balfour (Tax), and Michael Isby and Timothy Mulvihill (Environmental).