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 reported event): November 18, 2015
______________
POSTROCK ENERGY CORPORATION
(Exact name of registrant as specified in its charter)
______________
Commission File No. 001-34635
| | | |
| Delaware | 27-0981065 | |
| (State or other jurisdiction of Incorporation or organization) | (I.R.S. Employer Identification No.) | |
| 210 Park Avenue Oklahoma City, Oklahoma (Address of Principal Executive Offices) | 73102 (Zip Code) | |
Registrant’s Telephone Number, including Area Code: (405) 600-7704
| | |
| 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: | |
| [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |
| [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |
| [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |
| [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |
Item 1.01Entry into a Material Definitive Agreement.
On November 18, 2015, PostRock Energy Corporation (“PostRock”) executed a Purchase and Sale Agreement with Jericho Buckmanville Oil LLC (the “PSA”) to sell certain of its Oklahoma assets for $13 million. The net proceeds will be used to pay down debt under PostRock’s revolving credit facility. The transaction is subject to customary terms and conditions and is scheduled to close no later than December 30, 2015. Either party has a termination right if the transaction has not closed on or before January 31, 2016.
As previously announced, in March 2015, PostRock engaged Evercore Group L.L.C. to assist the board of directors in evaluating its strategic alternatives which include, among other things, merging or selling PostRock and/or selling operating assets. This transaction is a result of this evaluation.
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 hereunto duly authorized.
| |
| |
| POSTROCK ENERGY CORPORATION |
| |
| /s/ Casey E. Bigelow |
| Casey E. Bigelow |
| Chief Accounting Officer, Secretary and Treasurer |
| |
Date: November 20, 2015 | |
