ATP Oil & Gas Corp. (ATPG) announced that it has priced a private offering of 1.25 million shares of new series of 8.00% convertible perpetual preferred stock for net proceeds of about $121 million. The company estimates to close the private offering to occur on September 29, 2009.
The company has also granted a 30-day option to the initial purchasers to buy about 350,000 additional shares to cover any over-allotments.
The company said that the annual dividend on each share of convertible preferred stock is $8.00 and is payable quarterly, in arrears, on each January 1, April 1, July 1, and October 1, commencing on January 1, 2010.
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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.