Teton Energy Announces Common Stock Offering
Teton Energy Corp., an independent oil and gas exploration and production company with operations in the U.S. Rocky Mountain region, on Thursday said that it intends publicly to offer 2 million shares of its common stock.
Petrie Parkman & Co. is serving as sole underwriter and book-running manager for the offering. The offering is being made only by means of a prospectus and related prospectus supplement, copies of which may be obtained by contacting the offices of Petrie Parkman & Co. at 303-292-3877 or 475 17th Street, Suite 1100, Denver, CO 80202.
Teton intends to grant the underwriter a 30-day option to purchase a maximum of 300,000 additional shares of its common stock. The company intends to use the net proceeds from the offering to finance its ongoing capital expenditure program and for general corporate purposes.
The shares of common stock will be offered pursuant to an effective shelf registration on Form S-3, which was previously filed with the Securities and Exchange Commission (the "SEC"). An electronic copy of the prospectus and preliminary prospectus supplement are available at the SEC's website at www.sec.gov.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation, or sale would be unlawful prior to the registration or qualification under the securities laws of any state.
Denver-based Teton Energy Corp. is an independent oil and gas exploration and production company with operations in the Rocky Mountain region of the U.S. The company's common stock trades as TEC on the American Stock Exchange.
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