CALGARY, ALBERTA–(Marketwired – Sept. 20, 2016) – Crescent Point Energy Corp. (“Crescent Point” or the “Company”) (TSX:CPG)(NYSE:CPG) has closed its previously announced bought deal financing. A total of 33,700,000 Crescent Point common shares have been issued at a price of $19.30 per share for gross proceeds of approximately CDN$650 million (the “Financing”). The associated over-allotment option granted to the underwriters can be exercised at any time until and including 30 days from today’s closing. In the event that the option is exercised in whole or in part, the Company will announce the proceeds at that time. Net proceeds of the Financing are expected to be used to fund approximately $600 million of incremental growth capital expenditures during 2016 and 2017 and reduce bank indebtedness.
The syndicate of underwriters was led by BMO Capital Markets, and includes CIBC Capital Markets, RBC Capital Markets, Scotia Capital Inc., TD Securities Inc., FirstEnergy Capital Corp., National Bank Financial Inc., Peters & Co. Limited, Macquarie Capital Markets Canada Ltd., AltaCorp Capital Inc., GMP Securities L.P., Canaccord Genuity Corp., Citigroup Global Markets Canada Inc., Desjardins Securities Inc., MUFG Securities (Canada), Ltd. and Wells Fargo Securities Canada, Ltd.
The common shares issued under the Financing will be eligible to receive the dividend for the month of September 2016, which is expected to be paid on October 17, 2016.
This press release is not an offer of common shares for sale in the United States. Common shares may not be offered or sold in the United States or to, or for the account of benefit of, any U.S. persons (as defined in Regulation S under the U.S. Securities Act) absent registration or an exemption from registration. The Company has not registered and will not register the common shares under the US Securities Act of 1933, as amended. The Company does not intend to engage in a public offering of common shares in the United States.