What is the price range of Ellora Energy IPO?
The Ellora Energy IPO shares are expected to be priced in the price range of $17 to $19 per share. The initial (previous) price band for Ellora Energy IPO shares was set to $12 to $14 per share.
How many shares will be sold through the Ellora Energy IPO?
A total of 11.4 million shares will be sold through the Ellora Energy IPO. This includes the company shares of 8 million shares and a group of stockholders are offering the remaining 3.4 million shares.
Ellora gave the underwriters the option to buy up to an additional 1.7 million shares at the offering price to cover overallotments.
What is the expected size of the Ellora Energy IPO?
Going by the price of approximately $18 per share – the Ellora Energy IPO size would be around $132 million after fees and expenses.
Where will the capital raised by the Ellora Energy IPO be used?
The company plans to use the proceeds to repay debt. Any remaining proceeds will be used to fund capital expenditures and for other general corporate purposes.
What are the business valuations & financial results of Ellora Energy IPO?
Ellora operates in east Texas, western Louisiana and southwest Kansas. For the first three months of 2008, average net production was about 31 million cubic feet equivalent per day. As of March 31, the company's estimated total proved oil and gas reserves were about 229 billion cubic feet of equivalent.
First-quarter earnings totaled $1.1 million on revenue of $28.5 million.
Merrill Lynch; Raymond James & Associates; KeyBanc Capital Markets; Tudor, Pickering, Holt & Co. Securities; Howard Weil; Tristone Capital; and Thomas Weisel Partners are underwriting the IPO.
| Ellora's shares will be listed on the Nasdaq Global Market under the symbol "LORA". | Table of Contents |
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