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Venoco Prices Public Offering Of 4.0 Mln Shares At $18.75/Share - Quick Facts

Venoco Inc. (VQ) announced that it has priced public offering of 4.0 million common shares at $18.75 per share. Venoco expects the issuance, delivery and settlement of shares to occur on February 14, 2011.

The company said that the underwriters will have the option to buy 600 thousand additional common shares to cover any over-allotments.

Venoco estimates offering net proceeds to be about $71.4 million, after deducting expenses. Venoco intends to use net proceeds from the offering to reduce certain indebtedness and/or for general corporate purposes.

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