GeoMet, Inc. Announces Exercise of Over-Allotment
HOUSTON, August 1 -- GeoMet, Inc. (NASDAQ: GMET) announced today that the underwriters of its recent public offering of 5,000,000 shares of common stock have exercised in full the over-allotment option granted them by the Company to purchase an additional 750,000 shares of common stock from the Company. The 750,000 shares of common stock purchased pursuant to the over-allotment option were purchased at the public offering price of $10.00 per share, less an underwriting discount of $0.70 per share.
Banc of America Securities is the sole book-running manager for the offering, and A. G. Edwards and Raymond James are co-managers. A copy of the final prospectus relating to these securities may be obtained from the office of Banc of America Securities LLC, 9 West 57th Street, New York, NY10019.
.About GeoMet, Inc.
GeoMet, Inc. is an independent energy company engaged in the exploration for and development and production of natural gas from coal seams (“coalbed methane” or “CBM”). Our principal operations and producing properties are located in the Cahaba Basin in Alabama and the Central Appalachian Basin in West Virginia and Virginia. We also control additional coalbed methane development rights, principally in Alabama, British Columbia, Colorado, Louisiana, Virginia, and West Virginia.
For more information, please visit the Company’s web site at www.geometinc.com or contact Steve Smith at (713) 287-2251 or email@example.com.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of shares of common stock in any state in which such an offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities law of any such state. The offering will be made only by means of a written prospectus.