Laredo Petroleum Holdings has launched a secondary public offering of 12,500,000 shares of its common stock by affiliates of Warburg Pincus, the selling stockholders. The selling stockholders will receive all of the proceeds from this offering. No shares are being sold by the company or its management.
Laredo Petroleum Holdings, Inc., a Delaware corporation (NYSE: LPI) (the “Company” or “Laredo Petroleum”), announced today the commencement of an underwritten secondary public offering of 12,500,000 shares of its common stock by affiliates of Warburg Pincus LLC, the selling stockholders. In addition, the underwriters will have a 30-day option to purchase up to 1,875,000 additional shares from the selling stockholders.
The selling stockholders will receive all of the proceeds from this offering. No shares are being sold by the Company or its management.
J.P. Morgan, Goldman, Sachs & Co., BofA Merrill Lynch and Wells Fargo Securities are acting as joint bookrunners for the offering. BMO Capital Markets, Capital One Southcoast, Scotiabank / Howard Weil and Societe Generale are acting as senior co-managers for the offering, and BB&T Capital Markets, BOSC, Inc., Comerica Securities and Mitsubishi UFJ Securities are acting as co-managers for the offering.
This offering will be made only by means of a prospectus. Copies of the preliminary prospectus, when available, may be obtained from: J.P. Morgan via Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, or telephone: (866) 803-9204; Goldman, Sachs & Co., Prospectus Department, 200 West Street, New York, NY 10282, or telephone: 1-866-471-2526, facsimile: 212-902-9316, or email: [email protected]; BofA Merrill Lynch, 222 Broadway, 7th Floor, New York, NY 10038, Attn: Prospectus Department, or email: [email protected]; or Wells Fargo Securities, Attn: Equity Syndicate Dept., 375 Park Avenue, New York, New York 10152, or telephone: (800) 326-5897, or email: [email protected]
A registration statement relating to these securities has been filed with the Securities and Exchange Commission (“SEC”), but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. The registration statement is available on the SEC’s website at www.sec.gov under the registrant’s name, “Laredo Petroleum Holdings, Inc.”
This press release shall not constitute an offer to sell or a solicitation of an offer to buy any securities nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Laredo Petroleum is an independent energy company with headquarters in Tulsa, Oklahoma. Laredo Petroleum’s business strategy is focused on the exploration, development and acquisition of oil and natural gas properties primarily in the Permian and Mid-Continent regions of the United States.
This press release contains forward-looking statements as defined under federal securities laws. These forward-looking statements involve certain risks and uncertainties, including, among others, our business plans may change as circumstances warrant and the securities may not ultimately be offered to the public because of general market conditions or other factors. The Company undertakes no obligation to publicly update or revise any forward-looking statement.
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