Bracewell Represents Lilis Energy, Inc. in a Series of Financing Transactions

HOUSTON – Bracewell LLP represented Lilis Energy, Inc. in three separate transactions, consisting of a new credit facility, an exchange of outstanding term loan debt for common and preferred equity, and a preferred equity offering.

The firm advised Lilis on an amended and restated first lien revolving credit agreement in an aggregate principal amount of up to $500 million with BMO Harris Bank, N.A. acting as administrative agent.

Bracewell also advised Lilis on the exchange of approximately $68 million of loans outstanding under its existing second lien credit agreement with certain private funds affiliated with Värde Partners, Inc. for shares of common stock and shares of shares of a new series of its convertible preferred stock.

In addition, Bracewell represented Lilis in the sale of shares of a new series of its convertible preferred stock to certain private funds affiliated with Värde Partners, Inc. for gross proceeds of $25 million.

Bracewell lawyers involved in the transaction include:

Partners: Charles H. Still Jr. and Rebecca Keep

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