SilverBow plans 2.25 million secondary equity issuance
SilverBow plans 2.25 million secondary equity issuance
Reuters reported at 11:30 am EST that SilverBow Resources plans a secondary stock issuance of 2.25 million shares with the intention to use a portion of the proceeds to pay down a portion of its senor, secured credit facility. Also, a large institutional shareholder in SBOW reports they are selling 750,000 shares of SBOW. Shares down 8% on the news.