Finance & Investing | Fundraising | Capital Markets
Devon Energy Closes $1.469 Billion Stock Offering
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Devon Energy Corp. announced the closing of its previously announced public offering of 69,000,000 shares of its common stock and the full exercise of the underwriters’ option to purchase an additional 10,350,000 shares.
Net proceeds from the offering of $1.469 billion are expected to be used for general corporate purposes, including bolstering the Company’s liquidity position, reducing indebtedness and funding its capital program.
Goldman, Sachs & Co. acted as book-running manager for the offering.
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