Bracewell Advised Lilis Energy on $140 Million Financing

HOUSTON – Bracewell LLP advised Lilis Energy, Inc. on $140 million in new financings, including a $125 million convertible second lien term loan facility funded by Värde Partners, Inc., and an additional $15 million in the form of incremental term loans under Lilis’ existing first lien credit facility. The second lien term loan facility is convertible into shares of Lilis’ common stock, subject to certain terms and conditions, at $5.50 per share. The new $15 million term loan was structured as an amendment to the Company's existing first lien term loan facility.

The funds will be used to fuel the Company's continued expansion in the Permian Basin through leasing activity and acquisitions, as well as to fund Lilis’ drilling program. Additionally, the funds will be used to repay approximately $38 million of the Company's existing debt, as well as for general corporate purposes.

Bracewell lawyers involved in this transaction included:

Partners: Charles H. Still, Jr. and Rebecca Keep

Associates: Kathy Witty Medford, Anna K. Miller and Emily A. Banse