RSP Permian Inc. (NYSE: RSPP) priced an underwritten public offering of 5 million common shares, offered by it, and 4 million common shares offered by certain selling stockholders. The shares are priced at $25.80 each, RSP said March 17.
Gross proceeds total about $232.2 million—about $129 million to the company, and about $103.2 million to the selling stockholders. No proceeds will be received by RSP from the selling stockholders. The net proceeds RSP uses will repay all outstanding revolving credit facility borrowings and support general corporate purposes including drilling and development and acquisitions.
Barclays Capital Inc., the underwriter, was given a monthlong option to purchase 750,000 of the shares offered by the company and 600,000 of the shares offered by the selling stockholders.
The offer is scheduled to close March 23.
Dallas-based RSP Permian operates in the West Texas Permian Basin.
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