Gulfport Energy Corp. (NASDAQ: GPOR) said Dec. 14 that it will sell 29 milllion shares of its common stock to the public at $21.50 per share, with expected net proceeds of $608 million.
Gulfport’s equity offering will help to pay for the acquisition of 46,400 net acres from Vitruvian II Woodford LLC for $1.85 billion.
The offering is expected to close on Dec. 21, 2016, subject to customary closing conditions. The company is also offering $600 million in senior notes due in 2025 to help fund the deal.
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