NEW YORK ( The Deal) -- Metalmark Capital-backed Jones Energy priced its initial public offering of 12.5 million shares at $15, below the expected range of between $17 and $19 per share range, according to a Wednesday, July 24 regulatory filing. The company raised $188 million in the offering, which had been downsized from 14 million share.Austin, Texas-based Jones Energy is an oil and gas explorer and producer focused almost exclusively in an eight county region in the Texas Panhandle. The company was established in 2009, with Metalmark contributing $135 million. It posted revenue of $149.8 million in 2012, down from $168.3 million in 2011. New York private equity firm Metalmark has a 63% stake, or 23.2 million shares, in Jones. It did not sell any shares at the company's public debut. At the IPO price, the private equity firm's stake is valued at $348 million.
The Deal: Jones Energy's IPO Fails to Gain Market Interest
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