Berry Petroleum to offer 24.2 million shares in IPO priced at $15 to $17 each
Berry Petroleum Corp. launched its initial public offering, saying it will offer 12.2 million shares and the selling shareholders will sell another 6.6 million shares, priced at $15 to $17 each. The Bakersfield, Calif.-based company is planning to list on Nasdaq under the ticker symbol “BRY.” Proceeds of the deal will be used to buy some of its commeon stock from funds affiliated with Benefit Street Partners and Oaktree Capital Management. Goldman Sachs, Wells Fargo and BMO Capital Markets are lead bookrunning-managers, with Evercore ISI and UBS Investment Bank, acting as additional bookrunning managers. KeyBanc Capital Markets, Capital One Securities, Johnson Rice & Company L.L.C., Simmons & Company International, Energy Specialists of Piper Jaffray, Tudor, Pickering, Holt & Co., ABN AMRO, ING, BOK Financial Securities, Inc. and Citizens Capital Markets are acting as co-managers for the offering.