Dune debentures deal met AMEC is done!!!!!!! hoooraaa!
lets see if there is a dump to take out stop orders before going up... does not seem so!
Last update: 2/15/2007 7:30:00 AMHOUSTON, Feb 15, 2007 /PRNewswire-FirstCall via COMTEX/ -- Dune Energy, Inc.
("Dune" or the "Company") (DNE) announced today the final results of its tender offer to purchase all of the outstanding 8% Convertible Secured Debentures (the "Debentures") issued by American Natural Energy Corp. ("ANEC") upon the terms and conditions previously announced on December 28, 2006 and set forth in the Tender Offer Statement on Schedule TO, as amended, filed by the Company with the Securities and Exchange Commission on such date. In addition to accepting for purchase Debentures in the aggregate principal amount of $3,035,000 during the initial offering period ended January 31, 2007, the Company has accepted additional Debentures in the aggregate principal amount of $1,860,000 tendered, upon the same terms and conditions, under the tender offer as extended by the Company, as announced on February 1, 2007. The consideration to be paid for the subsequently tendered Debentures is 524,615 shares of Dune's common stock, based upon the purchase price equal to 55% of the aggregate principal amount of the Debentures tendered divided by the average closing price of the Company's common stock for the 10 trading days ended January 26, 2007, or $1.95, as previously announced on January 29, 2007. Under the tender offer, as extended, the Company issued a total of 1,380,641 shares of its common stock to purchase Debentures having an aggregate principal amount of $4,895,000.