Sundance Energy Australia ( SNDE ), a US oil and gas E&P operating in the Eagle Ford and Woodford formations, plans to raise $136 million by offering 7.8 million shares at a price range of $16.50 to $18.50. At the midpoint of the proposed range, Sundance Energy Australia would command a market value of $542 million. Sundance Energy Australia, which was founded in 2004, booked $63 million in sales over the last 12 months. The Denver, CO-based company plans to list on the NASDAQ under the symbol SNDE. Wells Fargo Securities, Canaccord Genuity and UBS Investment Bank are the joint bookrunners on the deal. (Please note: Currently trades on the Australian Securities Exchange under the ticker SEA.)
SEA Price at posting:
$1.06 Sentiment: Buy Disclosure: Held
