April 4, 2013
/PRNewswire/ -- Goodrich Petroleum Corporation (NYSE: GDP) (the "Company") today announced that it has commenced, subject to market and other conditions, an underwritten public offering of non-convertible, perpetual preferred stock through the issuance of depositary shares each representing a 1/1000th ownership interest in a share of the Company's Series C Cumulative Preferred Stock. In connection with the offering, the Company intends to grant the underwriters a 30-day option to purchase additional depositary shares to cover over-allotments, if any.
The Company intends to use the net proceeds from the offering to enhance liquidity and financial flexibility through the repayment of borrowings outstanding under its senior credit facility and for general corporate purposes.
Morgan Stanley & Co. LLC, UBS Securities LLC and Barclays Capital Inc. are acting as joint book-running managers for the offering. MLV & Co. LLC and Stephens Inc. are acting as co-managers for the offering.
The offering will be made only by means of a prospectus, forming a part of the Company's effective shelf registration statement, related prospectus supplement and other related documents. You may obtain these documents for free by visiting EDGAR on the Securities and Exchange Commission website at
. Alternatively, copies may be obtained from Morgan Stanley & Co. LLC, 180 Varick Street, 2nd Floor,
New York, New York
10014, Attention: Prospectus Department, telephone: (866) 718-1649 or email at
; UBS Securities LLC, 299 Park Avenue,
New York, NY
10171, Attention: Prospectus Specialist, telephone: (877) 827-6444, ext. 561 3884; and Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Ave.,
11717, telephone: (888) 603-5847 or email at
you invest, you should read the prospectus supplement and accompanying base prospectus, along with other documents that the Company has filed with the Securities and Exchange Commission, for more complete information about the Company and this offering.
This announcement is neither an offer to sell nor a solicitation of an offer to buy any of these securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful.