Bracewell & Giuliani LLP is representing Bluescape Resources Company LLC in a services and investment agreement with EXCO Resources, Inc.
Bluescape will purchase $10 million in EXCO’s common stock from EXCO and an additional $40 million in common stock in the open market within one year from closing; and Bluescape will receive a cash retainer and a warrant package designed to reward outstanding relative value outperformance by EXCO’s common stock.
The services under the agreement will begin immediately. Certain other components of the agreement, including C. John Wilder joining the board of directors, satisfying a condition to the exercisability of the warrants, and the obligation of Bluescape to acquire at least $40 million of EXCO’s common stock through open market purchases are subject to regulatory approvals, shareholder approval and amending the articles of incorporation of EXCO.
Bracewell attorneys involved in this matter include:
Partners: Bryan E. Loocke, G. Alan Rafte, William S. Anderson, Elizabeth L. McGinley, Emily E. Leitch, Bruce R. Jocz, and Daniel E. Hemli
Senior Counsel: Jacqueline R. Java
Associates: Benjamin J. Martin, Vivian Y. Ouyang, Kate D. Barrington, Stephen M. Boone, Will M. Thanheiser, and Charlotte Keenan