Finance - Equity
The shares are subject to a hold period that ends four months and one day from the closing date, the company noted.
Net proceeds will repay part of the outstanding senior secured revolving credit facility debts, the company said.
The offer was upsized from 5.5 million units, the company said.
The company offered 12.5 million common shares.
The offer is scheduled to close Sept. 9, Memorial Production Partners added.
Houston-based Vinson & Elkins was the legal adviser to Riverstone and Barclays Natural Resource Investments.
There was $50 million in total proceeds, the company noted.
Gross proceeds to the company are expected to be approximately $18.375 million.
The net proceeds received by Rice from the sale of 7,500,000 shares of its common stock were approximately $196.3 million.
The new equity will support development of the Shenandoah and Coronado areas in the deepwater Gulf of Mexico, the company said.
RSP sold about 4.8 million shares, while the selling stockholders sold about 6.7 million shares, the company added.
The financing will result in US$1.5 million in proceeds, the company said.
Hart Energy Events
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