PHX has entered into a concurrent bought deal financing and private placement that will raise $37 mm at a price of $5.75/share (6.4 mm shares). The Company will use the funds to temporarily pare back its debt level, but will eventually be used for ongoing capital spending initiatives such as the Velocity system. We have made no changes to our revenue and EBITDAS assumptions. The result of the share issuance is that our 2015e loss per share narrows to $0.39 while our 2016e EPS declines 2.0% to $0 ....
