Centennial Resource Development Inc. (NASDAQ: CDEV) has priced an underwritten public offering of 25 million shares of Class A common stock, it said on Nov. 9.
Goldman Sachs & Co. LLC is acting as the underwriter for the offering and proposes to offer the shares of Class A common stock to the public at a price of $20.20 per share.
The selling stockholders include Riverstone VI Centennial QB Holdings LP, REL US Centennial Holdings LLC, Riverstone Non-ECI USRPI AIV LP, Silver Run Sponsor LLC and Celero Energy Co. LP.
The selling stockholders have also granted the underwriters a 30-day option to purchase up to an aggregate of 3.75 million additional shares of Class A common stock.
Centennial will not sell any shares of Class A common stock in the offering and will not receive any proceeds therefrom.
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