Finance & Investing | Fundraising | Capital Markets
QEP Resources Prices $330 Million Public Offering
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QEP Resources, Inc. has priced an upsized underwritten public offering of 33,000,000 shares of its common stock at a price to the public of $10.00 per share. QEP has granted the underwriters a 30-day option to purchase up to 4,950,000 additional shares of common stock. QEP expects to receive total gross proceeds (before underwriting discounts and estimated offering expenses) of approximately $330.0 million, or approximately $379.5 million if the underwriters exercise their option to purchase additional shares of common stock in full.
The net proceeds from this offering are expected to be used for general corporate purposes, which may include, among other things, reducing indebtedness, acquiring properties and funding a portion of the Company’s exploration and production activities and…
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