Laredo Petroleum Announces Offering Of Common Stock

TULSA, OK, July 14, 2016 (GLOBE NEWSWIRE) – Laredo Petroleum, Inc., a Delaware corporation (NYSE:LPI) (“Laredo” or the “Company”), announced today the commencement of an underwritten public offering of 12,000,000 shares of its common stock, subject to market and other conditions. The Company expects to grant the underwriters a 30-day option to purchase up to 1,800,000 additional shares of the Company’s common stock. The underwriters intend to offer the shares from time to time for sale in one or more transactions on the New York Stock Exchange, in the over-the-counter market, through negotiated transactions or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices.

The Company intends to use the net proceeds from the sale of the shares of common stock to repay borrowings under its senior secured credit facility incurred for working capital purposes and to fund the purchase price of the Company’s recently announced asset acquisition.

Credit Suisse Securities (USA) LLC is acting as lead book-running manager for the offering.

This offering is being made pursuant to an effective automatic shelf registration statement, including a base prospectus and a preliminary prospectus supplement related to the offering, previously filed by the Company with the Securities and Exchange Commission (“SEC”). Copies of the base prospectus and the preliminary prospectus supplement may be obtained by visiting the SEC website at www.sec.gov. Alternatively, copies of the base prospectus and the preliminary prospectus supplement may be obtained from Credit Suisse at: Credit Suisse Securities (USA) LLC, Prospectus Department (1-800-221-1037) at Eleven Madison Avenue, Level 1B, New York, New York 10010 or by email at [email protected] 

This press release shall not constitute an offer to sell or a solicitation of an offer to buy any securities nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offer or sale of these securities will be made only by means of a prospectus, including a prospectus supplement, forming a part of the related registration statement.