Penn Virginia (PVA -14.4%) plunges after announcing concurrent public offerings of 12M shares of...

|About: Penn Virginia Corporation (PVAHQ)|By:, SA News Editor

Penn Virginia (PVA -14.4%) plunges after announcing concurrent public offerings of 12M shares of common stock and $50M of depositary shares representing convertible preferred equity. PVA intends to use net proceeds to repay debt and for general corporate purposes.