Natgas producer BKV slides on planned $400 mln convertible offering
09/09/2026 14:18
BUZZ-Natgas producer BKV slides on planned $400 mln convertible offering ** Natural gas producer BKV Corp's BKV.N shares down 6.5% at $25.01 in premarket trading on Weds as it seeks capital raise
** Denver, Colorado-based firm announces private offering of $400 mln convertible bonds due Oct 15, 2031
** Co intends to use net proceeds for general purposes, including debt repayment and capex
** It also intends to use some proceeds for capped call transactions, employed to help mitigate potential dilution, and up to $35 mln to repurchase its shares
** BKV shares, which have about $3 bln market cap, down 1.4% YTD through Tues close
** All 11 analysts covering the stock are bullish; median PT $35, per LSEG
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))