PostRock Energy Corp. (PSTR) Raises Capital in Equity Issuance
PostRock Energy Corp. reported that the company has received an equity investment of $60 million from White Deer Energy L.P., a private limited partnership that makes investments in energy companies. White Deer Energy L.P. will receive 12% cumulative redeemable preferred stock in exchange for the $60 million investment. The cumulative redeemable preferred stock has a 7 ½ year term and may be called by PostRock Energy Corporation after one year by paying a ten percent premium to par value. The company also has the right to pay dividends on the preferred stock in cash or in more shares of preferred…