Energy XXI (Bermuda) Ltd. (EXXI)said the underwriters have purchased an additional 4.11 million shares of common stock pursuant to an exercise of their option and it received net proceeds of approximately $7.4 million, after deducting underwriting discounts and commissions.
Energy XXI added that the offering of its common stock, including the exercise of the overallotment option for the common stock, and the previously announced concurrent public offering of the its 7.25% convertible perpetual preferred stock, including the overallotment option for the convertible preferred stock, resulted in the total sale of nearly 94.11 million shares of the company's common stock at a price of $1.90 per share to the public and 1.1 million shares of the company's convertible preferred stock at a price of $100 per share to the public, respectively, for total net proceeds from both offerings of $276.1 million, after deducting underwriting commissions and estimated expenses of the offering.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.