Member access

4-Traders Homepage  >  Shares  >  Nasdaq  >  Linn Energy LLC    LINE   US5360201009

LINN ENERGY LLC (LINE)

22
Delayed Quote. Delayed Nasdaq - 05/27 04:00:00 pm
11 USD   -2.22%
05/19 LINN Energy Announces Pricing of Its Public Offering of 16,000,00..
05/18 LINN Energy Announces Public Offering of Units
05/07 LINN ENERGY LLC : ex-dividend day
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 
The feature you requested does not exist. However, we suggest the following feature:

LINN ENERGY : Entry into a Material Definitive Agreement, Other Events, Financial Statements and Exhibits (form 8-K)

05/21/2015 | 04:42pm US/Eastern

Item 1.01 Entry into a Material Definitive Agreement.

On May 19, 2015, Linn Energy, LLC (the "Company") entered into an Underwriting Agreement (the "Underwriting Agreement") with Raymond James & Associates, Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, Barclays Capital Inc., Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and RBC Capital Markets, LLC, as representatives of the several underwriters named therein (the "Underwriters"), pursuant to which the Company will sell 16,000,000 units representing limited liability company interests in the Company (the "Units") at a price to the public of $11.79 per Unit ($11.3184 per Unit, net of the underwriting discount) (the "Offering"). Pursuant to the Underwriting Agreement, the Company granted the Underwriters a 30-day option to purchase up to an additional 2,400,000 Units on the same terms. The Units have been registered under the Securities Act of 1933, as amended (the "Securities Act"), pursuant to a shelf registration statement on Form S-3 (File No. 333-184647) filed on September 4, 2014, which was automatically declared effective by the Securities and Exchange Commission ("Commission") upon filing, as supplemented by the Prospectus Supplement dated May 19, 2015 relating to the Units, filed with the Commission pursuant to Rule 424(b) of the Securities Act on May 19, 2015. Closing of the sale of the Units is scheduled to occur on May 22, 2015, subject to customary closing conditions.

The Underwriting Agreement contains customary representations, warranties and agreements of the parties and customary conditions to closing, indemnification and contribution provisions under which the Company, on one hand, and the Underwriters, on the other, have agreed to indemnify each other against certain liabilities, including liabilities under the Securities Act, other obligations of the parties and termination provisions.

The Company also agreed, subject to limited exceptions, not to issue Units or securities convertible into Units for a period of 30 days after May 19, 2015, without the prior consent of Raymond James & Associates, Inc. The Company expects to use the net proceeds from the public offering of the Units to repay a portion of the indebtedness outstanding under its credit facility, which debt was primarily incurred to fund the open market repurchase of the Company's and Berry Petroleum Company, LLC's senior notes. Affiliates of certain of the underwriters are lenders under the Company's credit facility and, accordingly, will receive substantially all of the net proceeds from the public offering of the Units.

The summary of the Underwriting Agreement set forth in this Item 1.01 does not purport to be complete and is qualified by reference to such agreement, which is filed as Exhibit 1.1 hereto and incorporated herein by reference. Legal opinions relating to the Units are included as Exhibits 5.1 and 8.1 hereto.

Item 8.01 Other Events.

On May 19, 2015, the Company issued a press release announcing pricing of a public offering by the Company of the Units pursuant to an effective shelf registration statement on Form S-3ASR filed with the Securities and Exchange Commission. A copy of the press release is attached hereto as Exhibit 99.1.

Item 9.01 Financial Statements and Exhibits.




  (d) Exhibits.




1.1     Underwriting Agreement, dated May 19, 2015, among Linn Energy, LLC and
        Raymond James & Associates, Inc., Merrill Lynch, Pierce, Fenner & Smith
        Incorporated, Barclays Capital Inc., Citigroup Global Markets Inc., Credit
        Suisse Securities (USA) LLC, J.P. Morgan Securities LLC, Morgan Stanley &
        Co. LLC and RBC Capital Markets, LLC, as representatives of the several
        underwriters named therein.

5.1     Opinion of Baker Botts L.L.P. regarding the legality of the Units.

8.1     Opinion of Baker Botts L.L.P. regarding tax matters.

99.1    Press Release of Linn Energy, LLC dated May 19, 2015.

--------------------------------------------------------------------------------

© Edgar Online, source Glimpses

React to this article
Latest news on LINN ENERGY LLC
05/21 LINN ENERGY : Entry into a Material Definitive Agreement, Other Events, Financia..
05/19 LINN Energy Announces Pricing of Its Public Offering of 16,000,000 Units
05/18 LINN Energy Announces Public Offering of Units
05/15 LINN ENERGY : Entry into a Material Definitive Agreement, Creation of a Direct F..
05/07 LINN ENERGY LLC : ex-dividend day
04/29 LINN ENERGY : Management's Discussion and Analysis of Financial Condition and Re..
04/29 LINN ENERGY : Results of Operations and Financial Condition (form 8-K)
04/23 LINN ENERGY : Submission of Matters to a Vote of Security Holders (form 8-K)
04/09 LINN ENERGY : Oil and Gas Exploration and Production Stocks on the Move -- South..
04/09 LINN ENERGY LLC : ex-dividend day
Advertisement
Chart
Duration : Period :
Linn Energy LLC Technical Analysis Chart | LINE | US5360201009 | 4-Traders
Income Statement Evolution
More Financials