Finance & Investing | Fundraising | Capital Markets | Private Equity Activity
Gulfport Looks to Raise $364 Million for 2017 Drilling
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Gulfport Energy Corporation announced the commencement of an underwritten public offering of 14,000,000 shares of its common stock, subject to market and other conditions. The underwriters will have a 30-day option to purchase up to an additional 2,100,000 shares from Gulfport. Gulfport intends to use the net proceeds from this offering primarily to fund a portion of its 2017 capital development plan and for general corporate purposes.
At current price of $26.47 the company's gross proceeds would be $364 million before fees.
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