Energy & Exploration Partners, Inc. Announces Launch Of Convertible Notes Offering

FORT WORTH, Texas, June 23, 2014 /PRNewswire/ -- Energy & Exploration Partners, Inc. ("ENXP") announced today that it plans to offer $375 million in aggregate principal amount of convertible subordinated notes due 2019. Holders of the notes will have the option to elect to convert their notes into shares of ENXP's common stock upon the closing of the first qualified, registered public offering of ENXP's common stock.  ENXP will have the right to redeem the notes that are not converted at a redemption price equal to 100% of the principal amount of the notes plus accrued and unpaid interest. The notes will be subordinated in right of payment to all of ENXP's senior indebtedness.

ENXP intends to use the net proceeds from the offering, together with borrowings under a senior secured term loan that ENXP intends to enter into in conjunction with the closing of the notes offering, to (i) pay the purchase price for ENXP's recently announced acquisition of oil and gas assets from TreadStone Energy Partners, LLC, (ii) to refinance and replace ENXP's outstanding senior unsecured notes, and (iii) to fund a portion of its 2014 and 2015 capital expenditure budget.

The notes will be sold in a private placement solely to qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"). The notes and the shares of common stock into which the notes will convert have not been registered under the Securities Act or the securities laws of any other jurisdiction, and may not be offered or sold in the United States without registration under the Securities Act or an applicable exemption from the registration requirements of the Securities Act and applicable state laws.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.

Contact:
Energy & Exploration Partners, Inc.
Brian C. Nelson
Executive Vice President and Chief Financial Officer
(817) 484-4733

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SOURCE Energy & Exploration Partners, Inc.