Eclipse Resources Corporation Prices Public Offering of Common Stock
June 28 2016 - 8:47PM
Business Wire
Eclipse Resources Corporation (NYSE: ECR) (“Eclipse
Resources” or the “Company”) announced today that it has
priced an underwritten public offering of 37,500,000 shares of its
common stock at a price to the public of $3.50 per share. The
Company has granted the underwriters a 30-day option to purchase up
to an additional 5,625,000 shares of the Company’s common stock.
The offering is expected to close on July 5, 2016, subject to
customary closing conditions.
The Company intends to use all of the net proceeds from the
offering, including any net proceeds from the underwriters’
exercise of their option to purchase additional shares, to fund a
portion of the Company’s capital expenditure plan through 2017 and
for general corporate purposes.
Goldman, Sachs & Co., KeyBanc Capital Markets Inc., Morgan
Stanley & Co. LLC and BMO Capital Markets Corp. are acting as
joint lead book-running managers of the offering.
The offering is being made only by means of a prospectus
supplement and an accompanying base prospectus, each of which is
part of an effective shelf registration statement previously filed
by the Company with the Securities and Exchange Commission
(“SEC”). An electronic copy of the preliminary prospectus
supplement and accompanying base prospectus may be obtained at no
charge on the SEC’s website at www.sec.gov. A copy of the
preliminary prospectus supplement and the accompanying base
prospectus relating to the offering may also be obtained from the
offices of:
Goldman, Sachs & Co. KeyBanc Capital Markets Inc.
Morgan Stanley & Co. LLC BMO
Capital Markets Corp. Attn: Prospectus Department Attn: Prospectus
Delivery Attn: Prospectus Department Attn: Equity Syndicate 200
West Street Department
180 Varick Street, 2nd floor
Department New York, New York 10282 127 Public Square, 4th Floor
New York, NY 10014
3 Times Square
prospectus-ny@ny.email.gs.com
Cleveland, Ohio 44114 New York, NY 10036 Telephone: 1-866-471-2526
Telephone: 1-800-859-1783
bmoprospectus@bmo.com
Telephone: 1-800-414-3627
This press release does not constitute an offer to sell or the
solicitation of an offer to buy any securities, nor shall there be
any sale of any securities, in any jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such
jurisdiction.
About Eclipse Resources
Eclipse Resources is an independent exploration and production
company engaged in the acquisition and development of oil and
natural gas properties in the Appalachian Basin, including the
Utica and Marcellus Shales.
Forward-Looking Statements
This press release contains “forward-looking statements” within
the meaning of federal securities laws. Such forward-looking
statements are subject to a number of risks and uncertainties, many
of which are beyond the Company’s control. All statements,
other than statements of historical fact, included in this press
release are forward-looking statements. All forward-looking
statements speak only as of the date of this press release.
Although the Company believes that the plans, intentions and
expectations reflected in or suggested by the forward-looking
statements are reasonable, there is no assurance that these plans,
intentions or expectations will be achieved. Therefore, actual
outcomes and results could materially differ from what is
expressed, implied or forecast in such statements.
The Company cautions you that these forward-looking statements
are subject to all of the risks and uncertainties, most of which
are difficult to predict and many of which are beyond the Company’s
control, incident to the exploration for and development,
production, gathering and sale of natural gas, natural gas liquids
and oil. These risks include, but are not limited to, legal and
environmental risks, drilling and other operating risks, regulatory
changes, commodity price volatility and the recent significant
decline of the price of natural gas, natural gas liquids and oil,
inflation, lack of availability of drilling, production and
processing equipment and services, counterparty credit risk, the
uncertainty inherent in estimating natural gas, natural gas liquids
and oil reserves and in projecting future rates of production, cash
flow and access to capital, risks associated with the Company’s
level of indebtedness, the timing of development expenditures and
the other risks described in the Company’s filings with the
SEC.
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version on businesswire.com: http://www.businesswire.com/news/home/20160628006723/en/
Eclipse Resources CorporationDouglas Kris, Manager, Investor
Relations, 814-325-2059dkris@eclipseresources.com
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