GeoMet IPO Priced
GeoMet (GMET) today announced the pricing of its initial public offering of 5,000,000 shares of common stock at a price of $10.00 per share, at the lower-end of the $10.00 to $12.00 range. Banc of America acted as the sole book-runner with A.G. Edwards & Sons and Raymond James acting as co-managers.
GeoMet, Inc. is an independent energy company engaged in the exploration for and development and production of natural gas from coal seams. Its principal operations and producing properties are located in the Cahaba Basin in Alabama and the Appalachian Basin in West Virginia and Virginia. It controls additional coalbed methane development rights, principally in Alabama, British Columbia, Colorado, Louisiana, Virginia, and West Virginia.
It is surprising that an energy play is pricing at the lower-end of the range, but this deal generated very little buzz in IPO and underwriting circles.
GeoMet, Inc. is an independent energy company engaged in the exploration for and development and production of natural gas from coal seams. Its principal operations and producing properties are located in the Cahaba Basin in Alabama and the Appalachian Basin in West Virginia and Virginia. It controls additional coalbed methane development rights, principally in Alabama, British Columbia, Colorado, Louisiana, Virginia, and West Virginia.
It is surprising that an energy play is pricing at the lower-end of the range, but this deal generated very little buzz in IPO and underwriting circles.
posted by Jon C. Ogg at 9:37 AM
Subscribe
<< Home