CorEnergy begins offering of common stock and convertible notes

CorEnergy Infrastructure Trust Inc. (NYSE: CORR) plans to offer 11.25 million shares of common stock in an underwritten public offering. CorEnergy also intends to allow the underwriters a 30-day option to purchase up to an additional 1.6875 million shares of the common stock, at the public offering price, less the underwriting discount.

CorEnergy also plans to offer $75 million of unsecured convertible senior notes, and to allow the underwriters a 30-day option to purchase up to an additional $11.25 million of unsecured convertible senior notes at the public offering price, less the underwriting discount.

CorEnergy will use the net proceeds from these offerings to partially finance the planned $245 million acquisition of the Grand Isle Gathering System, a subsea pipeline system in the Gulf of Mexico, from Energy XXI Ltd. (NYSE: EXXI).

BofA Merrill Lynch and Wells Fargo Securities will act as joint bookrunning managers for both the common stock offering and the convertible notes offering.

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