RSP Permian Inc. (NYSE: RSPP) completed a public offering of 11.5 million common shares priced at $25.65 each, the company said Aug. 12.
Underwriters exercised their monthlong option to purchase additional shares on Aug. 8, RSP said.
RSP sold about 4.8 million shares, while the selling stockholders sold about 6.7 million shares, the company added.
Net proceeds of about $117.8 million were received from the company’s sale of about 4.8 million shares, RSP added, noting that they will repay amounts drawn under the revolving credit facility. No proceeds from the selling stockholders’ sale will be received by RSP, the company said.
Barclays Plc (NYSE: BCS), RBC Capital Markets, Raymond James, Tudor, Pickering, Holt & Co. and UBS Investment Bank were joint book-running managers, RSP said.
Dallas-based RSP Permian Inc. develops and produces oil and natural gas in the West Texas Permian Basin.
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