BKV Corporation announced that it has launched an underwritten public offering of 6M shares of its common stock. BKV intends to use the net proceeds from the offering, together with cash on hand, for the payment of the cash consideration of the purchase price in connection with BKV’s previously announced acquisition of a controlling interest in BKV-BPP Power and related expenses. Pending the closing of the BKV-BPP Power Joint Venture Transaction, or in the event the closing of the BKV BPP Joint Venture Transaction does not occur, BKV expects to use the proceeds of the offering for general corporate purposes. The completion of the offering is not contingent on the consummation of the BKV-BPP Power Joint Venture Transaction, and the BKV-BPP Power Joint Venture Transaction is not contingent on the completion of the offering. Citigroup, Barclays and Mizuho are acting as joint book-running managers for the offering.
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