Stone Energy Corporation (NYSE: SGY - News) today announced that it has commenced a registered underwritten public offering of 6,000,000 shares of its common stock. The underwriters will have a 30-day option to purchase up to 900,000 additional shares of its common stock. Stone intends to use the net proceeds from the offering for general corporate purposes, which may include the reduction of outstanding borrowings under its bank credit facility.
Barclays Capital Inc. and Merrill Lynch & Co. are acting as the joint book-running managers of the offering
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