Amplify Energy Announces Secondary Public Offering of Common Stock for Selling Stockholders

Rhea-AI Summary

Amplify Energy Corp. (NYSE: AMPY) announced a public offering of 8,548,485 shares by certain stockholders affiliated with Fir Tree Capital Management. Amplify will not sell any shares or receive proceeds from the offering. Roth Capital Partners serves as the Sole Manager. The offering is made under effective shelf registration statements filed with the SEC. This press release does not constitute an offer to sell or buy securities in jurisdictions where it would be unlawful.

Positive

• Offering involves 8,548,485 shares of common stock, potentially increasing liquidity for existing shareholders.

Negative

• Amplify will not receive any proceeds from the offering, which may affect short-term financial flexibility.
• Shareholder dilution may occur as a result of the offering.

HOUSTON, Dec. 10, 2020 (GLOBE NEWSWIRE) -- Amplify Energy Corp. (NYSE: AMPY) (“Amplify”) today announced the commencement of an underwritten public offering of 8,548,485 shares of its common stock by certain of its stockholders which are affiliates of Fir Tree Capital Management L.P.

Amplify will not sell any shares of its common stock in the offering and will not receive any proceeds therefrom.

Roth Capital Partners is acting as the Sole Manager for the offering.

This offering is being made pursuant to effective shelf registration statements (File No. 333-233677, effective October 11, 2019, and 333-215602, effective May 1, 2018) and prospectuses filed by Amplify with the Securities and Exchange Commission (“SEC”). The offering of these securities will be made only by means of a prospectus and prospectus supplement. A preliminary prospectus supplement has been filed with the SEC and is available on the SEC’s website at www.sec.gov. Copies of the preliminary prospectus relating to the offering may be obtained, when available, from Roth Capital Partners, Attention: Equity Capital Markets, 888 San Clemente Drive, Newport Beach, California 92660, by telephone at (800) 678-9147 or e-mail at rothecm@roth.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful without registration or qualification under the securities laws of any such state or jurisdiction.

About Amplify Energy

Amplify Energy Corp. is an independent oil and natural gas company engaged in the acquisition, development, exploration and production of oil and natural gas properties. Amplify’s operations are focused in Oklahoma, the Rockies, offshore California, East Texas / North Louisiana and South Texas. For more information, visit www.amplifyenergy.com.

Cautionary Statement Concerning Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that Amplify expects, believes or anticipates will or may occur in the future are forward-looking statements. Terminology such as “will,” “would,” “should,” “could,” “expect,” “anticipate,” “plan,” “project,” “intend,” “estimate,” “believe,” “target,” “continue,” “potential,” the negative of such terms or other comparable terminology are intended to identify forward-looking statements. Amplify believes that these statements are based on reasonable assumptions, but such assumptions may prove to be inaccurate. Such statements are also subject to a number of risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of Amplify, which may cause Amplify’s actual results to differ materially from those implied or expressed by the forward-looking statements. Please read Amplify’s filings with the Securities and Exchange Commission, including “Risk Factors” in its Annual Report on Form 10-K, and if applicable, its Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, and other public filings and press releases for a discussion of risks and uncertainties that could cause actual results to differ from those in such forward-looking statements. All forward-looking statements speak only as of the date of this press release. All forward-looking statements in this press release are qualified in their entirety by these cautionary statements. Amplify undertakes no obligation and does not intend to update or revise any forward-looking statements, whether as a result of new information, future results or otherwise.

Investor Relations Contacts

Martyn Willsher – Interim CEO & CFO
(832) 219-9047
martyn.willsher@amplifyenergy.com

Jason McGlynn – VP, Business Development
(832) 219-9055
jason.mcglynn@amplifyenergy.com

FAQ

What is the purpose of Amplify Energy's public offering of AMPY stock?

The offering allows certain stockholders affiliated with Fir Tree Capital Management to sell their shares, increasing market liquidity.

How many shares are being offered in Amplify Energy's latest offering?

A total of 8,548,485 shares of common stock are being offered.

Will Amplify Energy benefit financially from this stock offering?

No, Amplify will not receive any proceeds from the offering as it is conducted by existing stockholders.

Who is managing the Amplify Energy stock offering?

Roth Capital Partners is acting as the Sole Manager for the offering.

Is there a risk of dilution for Amplify Energy shareholders?

Yes, shareholder dilution may occur as a result of this offering.