LINE's stock price was down 4% in early morning trading...
HOUSTON, Dec. 9, 2010 (GLOBE NEWSWIRE) -- LINN Energy, LLC (Nasdaq:LINE - News) announced today the pricing of its public offering of 10,000,000 units of its limited liability company interests at a price to the public of $35.92 per unit. The underwriters have an option to purchase up to an additional 1,500,000 units from the Company at the public offering price less the underwriting discount. The offering is expected to settle and close on December 14, 2010, subject to customary closing conditions.
The Company expects to receive net proceeds of approximately $344 million (or approximately $396 million if the underwriters exercise their option to purchase an additional 1,500,000 units) from the offering and intends to use the proceeds to reduce debt under the Company's revolving credit facility and for general corporate purposes.
RBC Capital Markets, Barclays Capital, Citi, UBS Investment Bank, Wells Fargo Securities, Credit Suisse, and Raymond James acted as joint book-running managers for the offering. A copy of the prospectus supplement and the base prospectus relating to the offering may be obtained from: