UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): April 4, 2006
BRIGHAM EXPLORATION COMPANY |
(Exact name of registrant as specified in its charter) |
Delaware | | 000-22433 | | 75-2692967 |
(State or other jurisdiction
of incorporation) | | (Commission
File Number) | | (IRS Employer
Identification No.) |
6300 Bridgepoint Parkway |
Building Two, Suite 500 |
Austin, Texas 78730 |
(Address, including zip code, of principal executive offices) |
Registrant’s telephone number, including area code: (512) 427-3300
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2.):
o | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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o | Soliciting materials pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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o | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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o | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
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Item 7.01. Regulation FD Disclosure
On April 4, 2006, the Registrant issued a press release announcing its proposed private offering of $125 million of senior notes due 2014, subject to market and other customary conditions. The Registrant also announced that it intends to use the net proceeds from the proposed offering to repay all amounts outstanding under its existing credit facilities and any remaining amounts to fund exploration and development activities and for general corporate purposes. As of April 3, 2006, the Registrant had $43.2 million of borrowings outstanding and $46.8 million of additional borrowing capacity under its senior credit agreement. After giving effect to the senior notes offering and the use of the net proceeds therefrom, the borrowing base under the senior credit agreement will be reset to $50 million. The Registrant’s senior subordinated credit agreement will be terminated after the senior notes are issued.
The notes have not been registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States without registration or an applicable exemption from the registration requirements of the Securities Act. The Company plans to offer and issue the notes only to qualified institutional buyers pursuant to Rule 144A under the Securities Act and to persons outside the United States pursuant to Regulation S.
The information contained herein is neither an offer to sell nor a solicitation of an offer to buy any of these securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful.
Registrant is furnishing its press release dated April 4, 2006, which announces its plan to raise $125 million through a private placement of senior notes due 2014. The text of the press release is furnished as attached hereto as Exhibit 99.1.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibit 99.1 Press release dated April 4, 2006.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| BRIGHAM EXPLORATION COMPANY |
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Date: April 5, 2006 | By: | /s/ Eugene B. Shepherd, Jr. |
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| | Eugene B. Shepherd, Jr. |
| | Executive Vice President & |
| | Chief Financial Officer |
INDEX TO EXHIBITS
Item Number | | Exhibit |
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99.1* | | Press Release dated April 4, 2006. |
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