Bonanza Creek Energy Inc., a Denver-based oil and gas company, filed for a $361.4 million initial public offering on Tuesday.
The company plans to offer 9.5 million shares of common stock to the public and current stockholders are offering 4.8 million of their shares, according to the company’s prospectus.
Assuming its shares price at $21 each, the company will have $184 million available in proceeds. The target date for the offering is Dec. 15.
About $149.1 million of that will go to replace a line of credit, while $14.9 million is going toward drilling and development and $20 million to expand a processing facility.
The company reports that it has generated $1.7 billion in revenues since its start in 2006 through the end of 2010.
Its areas of focus include southern Arkansas, the Denver-Julesburg and North Park basins in Colorado and the San Joaquin Basin in California.
The offering statement can be viewed at
Aldo Svaldi: 303-954-1410, asvaldi@denverpost.com or twitter.com/aldosvaldi
