Financing

Details

Memorial Resource Development Corp. has priced an underwritten public offering of 12,000,000 shares of its common stock at a price to the public of $17.60 per share. The offering was upsized to 12,000,000 shares of common stock from the original offering size of 10,250,000 shares of common stock.

MRD has granted the underwriter an option to purchase up to 1,800,000 additional shares of common stock.

MRD intends to use the net proceeds from this offering, and any proceeds from the exercise of the underwriter's option to purchase additional shares, to fund a portion of the purchase price of MRD's recently announced pending acquisition of producing and non-producing properties in North Louisiana. If MRD does not complete the pending acquisition, it will use the net proceeds from the offering for general corporate purposes, which may include repayment of a portion of the outstanding borrowings under MRD's senior secured revolving credit facility.

Barclays is acting as sole book-running manager for the offering.