Berry Petroleum Co. (BRY) said on Thursday that it has priced its underwritten public offering of 8 million shares of common stock at $29.25 per share. The company granted the underwriters a 30-day option to buy an additional 1.2 million shares of its common stock to cover over-allotments.
The company estimates that its net proceeds from the sale of common stock, after deducting estimated underwriting discounts and commissions and offering expenses, will be $224 million, assuming the underwriters' over-allotment option is not exercised.
Net proceeds from the offering are expected to be used to fund the planned acquisition of certain properties in the Wolfberry trend of West Texas and for general corporate purposes. Pending the application of the proceeds for such purposes, Berry would use the net proceeds to reduce outstanding borrowings under its senior secured revolving credit facility.
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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.