Halcon shareholders took a big hit today also. Down over 11%

They had  big news today about shares being sold at a huge discount to yesterdays close. Looks like Halcon is making lots of people mad today. The stock symbol is HK if anyone wants to follow these guys?

HOUSTON, TEXAS, Sept. 12, 2012 (GLOBE NEWSWIRE) -- Halcon Resources Corporation (HK) ("Halcon" or the "Company") today announced the pricing of an underwritten secondary offering of 35,000,000 shares of its common stock offered by EnCap Energy Capital Fund VIII L.P. (the "Selling Shareholder") at $7.00 per share. The underwriters have a 30-day option to purchase up to 5,250,000 additional shares (100% secondary) of common stock from the Selling Shareholder. Halcon will not sell any shares or receive any proceeds from the offering. The offering is expected to close on or about September 18, 2012, subject to customary closing conditions.

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The stock was down because of the share dilution to existing shareholders of their just announced secondary offering.  While the capital raise may be negative for existing shareholders in the near-term, longer-term the secondary is positive for the company and landowners as the additional capital is likely to be used to ramp up drilling activity and to acquire additional leases. 

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