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Stock Market & Financial Investment News

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December 17, 2013
07:25 EDTXCOEXCO Resources announces commencement of rights offering
EXCO Resources announced that it has filed a registration statement on Form S-3 with the Securities and Exchange Commission for its previously announced rights offering. Under the terms of the rights offering, EXCO is distributing to its common shareholders, at no charge, one transferable subscription right for every share of common stock held of record on December 19. Each subscription right entitles the holder thereof to purchase 0.25 of a share of common stock for each share of common stock owned as of the record date at a purchase price of $5.00 per share. In addition to being able to purchase their pro rata portion of the shares offered based on their ownership as of the record date for the rights offering, shareholders may oversubscribe for additional shares of common stock as described in the registration statement. As soon as practicable after the record date for the rights offering, EXCO will distribute subscription rights certificates to individuals who owned its common stock on December 19. The rights offering will expire on January 9, 2014.
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