Goodrich Prices Public Offering to Fund TMS Development
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Goodrich Petroleum Corporation has reported the pricing of its public offering of 6,000,000 shares of the Company's common stock at $25.25 per share. In connection with the offering, the Company granted the underwriters a 30-day option to purchase up to an additional 900,000 shares of common stock to cover over-allotments. The offering is expected to settle and close on Monday, October 21, 2013, subject to customary closing conditions.
The Company estimates that the net proceeds from the offering will be approximately $144.2 million, after deducting underwriting commissions and expenses (or approximately $165.9 million, if the underwriters exercise their over-allotment option in full).
The Company intends to use the net proceeds from the offering to fund the acceleration of its drilling…
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