Forest Oil Announces Pricing of Common Stock Offeringadmin
Forest Oil Corporation, a company engaged in the acquisition, exploration, development, and production of natural gas and liquids in North America and selected international locations today announced that it has priced its previously announced public offering of 12,500,000 shares of its common stock at a price to the public of $18.25 per share. The Company has granted the underwriters a 30-day option to purchase up to 1,875,000 additional shares of its common stock.
Forest expects the issuance and delivery of the shares to occur on or about May 26, 2009, subject to customary closing conditions. Forest intends to use the net proceeds from the offering to repay a portion of the outstanding borrowings under its bank credit facilities.
Deutsche Bank Securities Inc. and Credit Suisse Securities (USA) LLC are acting as the joint book-running managers of the offering. The offering is being made only by means of a prospectus and related prospectus supplement, copies of which may be obtained from: Deutsche Bank Securities Inc., Attention: Prospectus Department, 100 Plaza One, Jersey City, NJ 07311, (800) 503-4611 or e-mail at firstname.lastname@example.org or from Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, One Madison Avenue, New York, NY 10010, (800) 221-1037. You may also get these documents for free by visiting the Securities and Exchange Commission’s website at www.sec.gov.