Finance & Investing | Fundraising | Capital Markets | Private Equity Activity
Gulfport Upsizes Public Offering to $358 Million
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Gulfport Energy Corporation reported the pricing of an underwritten public offering of 14,700,000 shares of its common stock at a price to the public of $25.25 per share.
The 14,700,000 share offering represents a 700,000 share upsize to the originally proposed 14,000,000 share offering. The underwriters have a 30-day option to purchase up to an additional 2,205,000 shares from Gulfport at the public offering price per share (less the underwriting discount). The offering is expected to close on March 15, 2016, subject to customary closing conditions. Net proceeds to Gulfport from the sale of the 14,700,000 shares will be approximately $358.0 million, after deducting underwriting discounts, commissions and estimated offering expenses. Gulfport intends to use the net proceeds from this…
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