At the close of trading today, XTO announced plans to sell 26 million shares of common stock to fund recent acquisitions in the nation's shale plays. The issuance would be 29.9 million shares with over allotments. Estimated proceeds assume yesterday's closing price of $57.98. In after hours trading, the stock is trading down $6.23 to $51.75. At this price, the anticipated proceeds would be over $185 million less.
Full Story at http://phx.corporate-ir.net/phoenix.zhtml?c=97780&p=irol-news
Tuesday, July 22, 2008
XTO Announces $1.68 Billion Stock Offering
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