Prospect Global Resources

SEC Filings

424B2
PROSPECT GLOBAL RESOURCES INC. filed this Form 424B2 on 11/09/2012
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Table of Contents


Summary of the Offering

        The following is a brief summary of certain terms of this offering and is not intended to be complete. It does not contain all of the information that will be important to a holder of shares of our common stock. For a more complete description of our common stock, see the section in this prospectus supplement and the accompanying prospectus, each titled "Description of Common Stock."

Common stock offered by us   15,000,000 shares of common stock plus up to 2,250,000 additional shares of common stock that we will issue and sell in the event that the Underwriters exercise their 30 day option to purchase additional shares of our common stock to cover over-allotments, if any.

Common stock to be outstanding after this offering

 

70,714,468 shares (72,964,468 shares of common stock if the Underwriters exercise their over-allotment option to purchase additional shares of common stock in full)(1)

Issue Price

 

$1.75 per share.

Use of Proceeds

 

The net proceeds to us from the sale of the common stock offered hereby are expected to be approximately $24.3 million ($28.0 million if the Underwriters exercise their over-allotment option to purchase additional shares of common stock in full) after deducting the underwriting discount and our estimated offering expenses. We intend to use $9.7 million of the net proceeds from this offering for a required payment due to The Karlsson Group under the $125,000,000 promissory note we issued in connection with the closing of our acquisition of the 50% interest in AWP formerly held by The Karlsson Group, $4.9 million to fund the preparation of a bankable feasibility study, $4.8 million for engineering, $1.0 million for permitting and environmental, $0.6 million for leasehold commitments and the balance for general corporate purposes and working capital. See "Use of Proceeds beginning on Page S-30 of this prospectus supplement.

NASDAQ Trading Symbol

 

PGRX

Risk Factors

 

Investing in our securities involves a high degree of risk. Please carefully consider the "Risk Factors" beginning on page S-15 of this prospectus supplement and on page 8 of the accompanying prospectus.

(1)
The total number of shares of our common stock outstanding as of November 7, 2012 is 55,714,468 and excludes, as of November 7, 2012, the following:

14,639,000 shares of common stock reserved for future issuance under our equity incentive plans. As of the date of this prospectus supplement, there were outstanding options under our equity incentive plans to purchase (i) 3,415,000 shares of our common stock with an exercise price of $4.25 per share, (ii) 3,346,000 shares of our common stock with an exercise price of $2.60 and (iii) 300,000 shares of our common stock with an exercise price of $2.88;

 

S-13


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