Finance & Investing | Fundraising | Capital Markets
Oasis Prices $160 Million Offering to Fund 2016 Spending
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Oasis Petroleum Inc. has priced an underwritten public offering of 34,000,000 shares of common stock for total gross proceeds (before the underwriter's discounts and commissions and estimated offering expenses) of approximately $160 million. Oasis intends to use the net proceeds of this offering for general corporate purposes and to fund a portion of its 2016 capital expenditures. Oasis granted the underwriter a 30-day option to purchase up to 5,100,000 additional shares of common stock. The offering is expected to close on January 28, 2016.
Citigroup is acting as sole book-running manager for the offering. The underwriter has offered the shares of common stock from time to time in one or more transactions in the over-the-counter market or through negotiated transactions at market prices or at negotiated prices.
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