Brigham Exploration has priced its offering of 14,000,000 shares of common stock at a public offering price of $18 per share. Net proceeds from the offering will be used primarily to fund an acceleration of Brigham's development drilling program on its core 161,900 net acres in the Williston Basin. The offering is scheduled to close April 13, 2010.
In connection with the offering, Credit Suisse Securities (USA) LLC and Jefferies & Company, Inc. are acting as joint book-running managing underwriters and Johnson Rice & Company, Raymond James, RBC Capital Markets, Tudor, Pickering, Holt & Co., Howard Weil Incorporated and Thomas Weisel Partners LLC are acting as co-managing underwriters for the offering. Brigham has granted the underwriters a 30-day option to purchase up to 2,100,000 additional shares to cover over-allotments, if any.
This announcement is neither an offer to sell nor a solicitation of an offer to buy any of these securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful.
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